OECD raises 2020 world GDP forecasts to -4.5%
In its interim economic outlook published on Wednesday, the Organization for Economic Cooperation and Development (OECD) now sees the world GDP at -4.5% in 2020, revised 1.5 percentage points higher from June.
Additional takeaways
“2021 GDP seen at +5% (-0.2% points from June).”
“Sees 2020 US GDP at -3.8% (+3.5% points), 2021 at +4% (-0.1% point).”
“Sees 2020 Chinese GDP at +1.8% (+4.4% points), 2021 at +8% (+1.2% points).”
“Sees 2020 Euro area GDP at -7.9% (+1.2% points), 2021 at +5.1% (-1.4% points).”
“Sees 2020 Japanese GDP at -5.8% (+0.2% points), 2021 at +1.5% (-0.6% points).”
“Sees 2020 UK GDP at -10.1% (+1.4% points), 2021 at +7.6% (-1.4% points).”
Market reaction
The market mood remains cautiously optimistic ahead of the all-important US Federal Reserve (Fed) monetary policy decision and economic projections.
The European equities post small gains while the US equity futures gain about 0.50%.
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.
