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OECD ups world economic outlook as tariffs contained

The world economy will grow more than previously forecast this year after absorbing the shock of US President Donald Trump's tariffs, but their full impact remains uncertain, the OECD said today.

Business • 23 Sep

The OECD has warned that trade tensions and uncertainty will stifle the world economy this year

OECD cuts global 2025 growth forecast to 2.9% on tariffs

The OECD has slashed its annual global growth forecast today, warning that US President Donald Trump's tariffs blitz will stifle the world economy - hitting the US especially hard.

Business • 03 Jun

Donald Trump's push to reshape world trade by imposing tariffs on all US imports has sent shockwaves through financial markets

Risk of global recession surges on US tariff shockwaves

Risks are high that the global economy will slip into recession this year, according to a majority of economists in a Reuters poll, in which several said US President Donald Trump's tariffs have damaged business sentiment.

Business • 29 Apr

The IMF says the tariff regime introduced on April 2 by the Trump administration will cut global economic growth to 2.8% from a projected 3.3% just three months ago

IMF says tariffs will hit economic growth this year

The International Monetary Fund has sharply cut its growth forecasts for this year because of the disruption caused by the tariffs on imports introduced by the US.

Business • 23 Apr

The OECD has cautioned that 'greater trade protectionism, particularly from the largest economies' poses a 'downside risk' along with geopolitical tensions

OECD warns of protectionism weeks before Trump return

The OECD has today warned that protectionist trade measures pose a major risk to disrupting the world economy, just weeks before Donald Trump is set to return to the White House.

Business • 04 Dec 24

$If Donald Trump enacts just a fraction of his pledges, the strain on government finances, inflation, economic growth and interest rates will be felt in every corner of the world$

Trump victory to reverberate through global economy

Donald Trump's victory in the race to become the next US president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.

Business • 06 Nov 24

The OECD has nudged up its 2024 forecast to 3.2% from 3.1% previously but left its outlook for 2025 unchanged

OECD sees global growth stabilising at 3.2% this year

Global growth is in the process of stabilising as the drag from central bank rate hikes fades and falling inflation boosts households' incomes, the OECD said today, marginally raising its outlook for this year.

Business • 25 Sep 24

The OECD predicts the global economy would maintain the 3.1% growth rate seen last year and pick up marginally to 3.2% next year

OECD upgrades global growth outlook as US outperforms

The global economy is growing faster than expected only a few months ago thanks to resilient US activity while inflation is converging more quickly than expected with central banks' targets, the OECD said today, upgrading its outlook.

Business • 02 May 24

Germany overtakes Japan as world's third-biggest economy

Once forecast to become the world's biggest economy, Japan slipped below Germany last year to fourth place, official data showed today, although India is projected to leapfrog both later this decade.

Business • 15 Feb 24

Kristalina Georgieva, the Managing Director of the International Monetary Fund

IMF, World Bank warn Gaza war imperil global economy

The IMF and World Bank warned today that the Gaza war and the related attacks on shipping through the Red Sea pose threats to the global economy.

Business • 12 Feb 24

The IMF said its overall inflation outlook remained unchanged at 5.8% for 2024

IMF lifts global growth forecast citing 'resilience'

The IMF said today it has raised its 2024 global growth forecast to 3.1%, citing unexpected "resilience" in major advanced and emerging market economies around the world.

Business • 30 Jan 24

Growth among leading economies is not forecast to be consistent, with relative strength in the US and India, and sluggishness expected from the euro zone and China

Global economy outlook at odds with rate cut bets: poll

Global growth is set to stay resilient this year and only pick up pace a bit in 2025, according to a Reuters poll of economists, a stable outlook at odds with still-relatively aggressive interest rate cut bets in financial markets.

Business • 26 Jan 24

The World Economic Forum's (WEF) annual meeting in the Swiss resort of Davos starts today

Precarious year ahead for world economy - Davos survey

The global economy faces a year of subdued growth prospects and uncertainty stemming from geopolitical strife, tight financing conditions and the disruptive impact of artificial intelligence, a survey of top economists released today found.

Business • 15 Jan 24

Global GDP is likely to grow 2.4% this year, the World Bank forecast today in its latest Global Economic Prospects report

World Bank forecasts 2024 global growth to slow again

The World Bank has today warned that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries.

Business • 09 Jan 24

Global growth is set to moderate from 2.9% this year to 2.7% in 2024 before picking up in 2025 to 3%, the OECD said in its latest Economic Outlook

OECD predicts Irish economy to contract by 0.6% in 2023

The Paris-based think tank, the OECD, has forecast that the economy measured by gross domestic product (GDP) will shrink this year by 0.6%.

Business • 29 Nov 23

The IMF left its forecast for global real GDP growth in 2023 unchanged

IMF cuts growth forecast for China and euro area

The International Monetary Fund has today cut its growth forecasts for China and the euro area and said overall global growth remained low and uneven despite what it called the "remarkable strength" of the US economy.

Business • 10 Oct 23

Companies around the world are wrestling with higher borrowing costs and consumers tightening their own budgets amid a cost of living crisis

Two measures of corporate health starting to flash red

Two measures of corporate and economic health were flashing red today as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the US tech sector were slashing their marketing spend.

Business • 04 Aug 23

Maersk transports goods for retailers and consumer companies such as Walmart, Nike and Unilever, and is seen as a barometer for global economic and corporate health

Maersk warns of slower demand for container shipping

Shipping group AP Moller-Maersk today warned of a steeper decline in global demand for shipping containers by sea this year, prompted by muted economic growth and customers reducing inventories.

Business • 04 Aug 23

China's Caixin/S&P Global manufacturing PMI fell to 49.2 in July from 50.5 in June, missing analysts' forecasts of 50.3

World factory activity shrinks as China slowdown hits

Global factory activity took a further turn for the worse in July, private surveys showed today, a sign slowing growth and weakness in China were taking a toll on the world economy.

Business • 01 Aug 23

The world economy is set to grow 2.7% this year, the OECD said today, up from its previous forecast of 2.6% in March

OECD sees limited growth pick-up as rate hikes weigh

Global economic growth will pick up only moderately over the next year as the full effects of central bank rate hikes are felt, softening the boost from lower inflation, the OECD said today, nudging up its 2023 economic outlook.

Business • 07 Jun 23

The Eurochambres report is based on the responses of trade and commerce organisations representing around 70% of world economic output

Global economy facing a challenging year - Eurochambres

The international business community expects a challenging 2023 marked by geopolitical tensions, high inflation and the energy crisis, according to the Eurochambres global economic survey published today.

Business • 25 Jan 23

The week-long meeting at Davos was dominated by debate on a new row between the US and Europe on subsidies for green energy transition, the growing debt distress in developing nations and abundant geopolitical risk around the planet

Davos: Outlook brighter than feared, fraught with risks

The year ahead looks better than feared for the global economy but remains fraught with risks including escalation of the conflict in Ukraine and the emergence of a transatlantic trade war, the World Economic Forum's final panel concluded.

Business • 23 Jan 23

Ngozi Okonjo-Iweala, director-general of the World Trade Organization (WTO), at Davos

Global trade rethink - 'race of the big pockets'?

The US pitched its vision of "worker-centric" trade. China promised an "all-round opening up". Europe spoke of its quest for strategic autonomy. And industrial policy - backed with lots of state cash - is no longer a dirty word.

Business • 20 Jan 23

Participants at the opening of the World Economic Forum's annual meeting counted the likely cost of a recession for their economies and businesses.

Recession casts long shadow over opening of WEF summit

The prospect of imminent global recession cast a long shadow over Davos yesterday as participants gathering for the opening of the World Economic Forum's annual meeting counted the likely cost for their economies and businesses.

Business • 17 Jan 23

The World Economic Forum kicks off in Davos today

Global recession seen likely in 2023 - WEF survey

Two-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said today as business and government leaders gathered for its annual meeting.

Business • 16 Jan 23

World Economy