Skip navigation Scroll to top

Scroll to top

OECD revised its global growth forecast

November 20, 2013

The OECD (Organization for Economic Cooperation and Development) cut its global growth forecasts for this year and next as emerging-market economies cool. The world economy will expand 2.7% in 2013 and 3.6% next year, instead of the 3.6% and 5.8% previously predicted. The reduced growth prospects underline how the global economy remains vulnerable, the Paris-based organization said. Therefore, the European Central Bank should look at ways to ease policy further and the Federal Reserve must keep an accommodative stance for some time before it begins tapering its stimulus.