OECD: Global economic growth rate will stabilize at 3.2% this year

The Organisation for Economic Co-operation and Development (OECD) expects the global economic growth rate to stabilize at 3.2% in 2023. With the weakening effect of central bank interest rate hikes and declining inflation, household incomes are increasing, and global economic growth is in a stabilizing phase. The organization has slightly raised its economic growth forecast for 2024 to 3.2%. It is expected that the U.S. economic growth will slow down from 2.6% in 2023 to 1.6% in 2025, while the Eurozone's economic growth rate will increase from 0.7% to 1.3%. The economic outlook for the UK has also been revised upwards, with growth expected to reach 1.1% in 2024