• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

OECD warns global economy risks losing momentum

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
105
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

OECD warns global economy risks losing momentum

The world’s advanced economies are heading into a deepening slowdown as markedly higher interest rates take a hefty toll on activity that could still become more acute, the OECD warned.

Growth is losing momentum in many countries and won’t edge up until 2025, when real incomes recover from the inflation shock and central banks will have begun cutting borrowing costs, the Paris-based organization said.

It forecasts global gross domestic product to expand only 2.7% next year after an already weak 2.9% in 2023. The pace will only pick up to 3% in 2025, according to the assessment.

Moreover, the OECD said the risks to the forecast are tilted downwards amid heightened geopolitical tensions, an uncertain outlook for trade, and the risk that tight monetary policy could hurt firms, consumer spending and employment more than expected.

“Inflation is easing, but growth is slowing,” OECD Chief Economist Clare Lombardelli said in a statement. “We are projecting a soft landing for advanced economies, but this is far from guaranteed.”

The gloomy perspective points to a long hangover from the global inflation crisis that followed the Covid pandemic and a surge in energy prices after Russia’s invasion of Ukraine.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Central banks reacted to that with some of the sharpest and fastest rate increases in history, and have indicated they may stay at high plateaus for some time.

The OECD said that even as headline measures of inflation have declined, gauges of core prices are proving sticky — and monetary policy must remain restrictive until there are clear signs underlying pressures are durably lower.

It expects rate cuts in the US will only begin in the second half of 2024, and not until the spring of 2025 in the euro area. That contrasts starkly with the expectations of markets, which are currently pricing the Federal Reserve and the European Central Bank will ease policy as soon as the first half of next year.

The OECD observed that emerging markets are generally faring better than advanced economies. Among the latter, Europe is lagging the US, in part because countries there are more sensitive to interest rates as they rely more on bank-based finance, the organization said.

A “challenging fiscal outlook” is confronting many governments as debt-servicing costs rise, the OECD warned. To meet demands from aging populations and the climate transition, it said countries need to make stronger efforts in the near term to create space for future spending.

“In summary, the global economy is grappling with inflation, slowing growth, and mounting fiscal pressures,” Lombardelli said.

Tags: global economy risksOECDOECD warns global economy risks losing momentum
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.