OECD Interim Economic Outlook
In the OECD’s September Interim Economic Outlook the organisation kept its global GDP growth forecasts broadly unchanged from its previous outlook in May, at 5.7% for 2021 and 4.5% for 2022, as key policy measures continue to boost growth in advanced economies even as inflation starts to create headwinds.
The 2021 US growth forecast was downgraded by -0.9 percentage points to 6.0%, owing to rising inflation, in part caused by higher shipping and commodity costs. China’s forecast for 2021 was kept unchanged at 8.5%, while India and Japan were downgraded slightly to 9.7% and 2.5% respectively. By contrast, projected Euro area growth was upgraded by one percentage point to 5.3%.