In the latest economic outlook report released today, OECD projects 2018-19 global growth to be at around 3.8% while G20 growth would be 4.0%. It noted in the release that “the global economy is experiencing stronger growth, driven by a rebound in trade, higher investment and buoyant job creation, and supported by very accommodative monetary policy and fiscal easing.”
However, OECD also warned of “significant risks posed by trade tensions, financial market vulnerabilities and rising oil prices loom large”. And it urged that “more needs to be done to secure a strong and resilient medium-term improvement in living standards.”
OECD Secretary-General Angel Gurria said that “the economic expansion is set to continue for the coming two years, and the short-term growth outlook is more favourable than it has been for many years.” However, “the current recovery is still being supported by very accommodative monetary policy, and increasingly by fiscal easing”. Hence, “strong, self-sustaining growth has not yet been attained.”
Below is a summary of OECD projections.
