In its latest economic outlook released on Wednesday, the Organization for Economic Cooperation and Development (OECD) said it estimates world GDP growth will be 5.6% (revised from 5.7%) in 2021, 4.5% in 2022 and 3.2% in 2023, according to Reuters.
OECD sees growth U.S 5.6% in 2021, 3.7% in 2022 and 2.4% in 2023 (compared to 6.0% in 2021 and 3.9% in 2022 previously). With respect to China estimates 8.1% (8.5% previously) in 2021 and 5.1% (5.8%) in 2022. While for the Eurozone, it is estimated that it will be 5.2% (5.3%) in 2021, 4.3% (4.6%) in 2022 and 2.5% in 2023; and to Japan from 1.8% (2.5%) in 2021, 3.4% (2.1%) in 2022 and 1.1% in 2023
“Inflation will peak at the end of 2021 at around 5% in the OECD as a whole before gradually falling back to around 3% in 2023,” he said in his report. They estimate that the best central banks can do for now is to wait for tensions over supply chain problems to subside and signal that they will act if necessary.
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