OECD trims global growth forecast to 5.7% for 2021 from 5.8% in May
|In an update of its economic outlook, the Organisation for Economic Co-operation and Development (OECD) on Tuesday trimmed the global growth forecast to 5.7% for 2021 from 5.8% in May.
Key highlights:
- Sees UK growth of 6.7% in 2021 (down from 7.2% in May) and 5.2% in 2022 (5.5% in May).
- China 2021 GDP growth forecast: 8.5% (unchanged); 2022: 5.8% (unchanged).
- Sees Japanese growth of 2.5% in 2021 (vs May forecast of 2.6%), 2.1% in 2022 (2.0% in May).
- OECD hikes 2021, 2022 inflation outlook for US, Eurozone, UK.
- Sees US growth of 6.0% in 2021 (vs May forecast of 6.9%), 3.9% in 2022 (3.6% in May).
- Raises EZ economic growth forecast to 5.3% from 4.3%; 2022: 4.6% (from 4.4%).
Market reaction
The report did little to influence the prevalent risk-on environment. In fact, the S&P 500 future was last seen holding with strong gains of nearly 1% for the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.