OECD cuts 2019 global growth forecast to 2.9% from 3.2%
In its latest report, the Organization for Economic Co-operation and Development (OECD) cut its forecasts for the global economy, with further headlines found below.
2019 global GDP growth at 2.9% (previously 3.2%)
2020 global GDP growth at 3.0% (previously 3.4%)
2019 US GDP growth at 2.4% (previously 2.8%)
2020 US GDP growth at 2.0% (previously 2.3%)
2019 China GDP growth at 6.1% (previously 6.2%)
2020 China GDP growth at 5.7% (previously 6.0%)
2019 Eurozone GDP growth at 1.1% (previously 1.2%)
2020 Eurozone GDP growth at 1.0% (previously 1.4%)
2019 Japan GDP growth at 1.0% (previously 0.7%)
2020 Japan GDP growth at 0.6% (unchanged)
2019 UK GDP growth at 1.0% (previously 1.2%)
2020 UK GDP growth at 0.9% (previously 1.0%)
The downward revisions to the global growth forecasts by the OECD have a little market reaction, as the European equities trade with modest gains while Wall Street futures keep the red ahead of the BOE rate decision and US macro news.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
