OECD upgrades 2024 global economic growth projection to 2.9% due to US outlook improvement, but warns of Middle East conflict risks for Red Sea shipping.

The OECD revised its 2024 global economic growth projection upwards to 2.9%, due to an improved outlook for the United States. This marks an increase from its earlier estimate of 2.7% in November. The organization cautions, however, that the Middle East conflict poses risks to this forecast, as disruptions in Red Sea shipping could lead to elevated consumer prices.

February 05, 2024
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