Economics
OECD Adds Major Trade War Caveat to Optimistic Global Outlook
- Forecasts raised, global economy will grow close to 4%
- Elevated debt levels, stock valuations also a risk to outlook
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The global economy will grow close to 4 percent this year and next, better than previously anticipated, according to the OECD, which added a warning that a trade war could roll back the gains seen in recent years.
Upgrading its forecasts, the Paris-based group in part cited U.S. tax cuts for the better numbers. It sees the world economy expanding 3.9 percent in both 2018 and 2019, the strongest since 2011. That’s up from 3.7 percent and 3.6 percent respectively compared with its November projections.