Global economic growth has peaked and is now slowing as the world faces risks from rising trade tensions and tightening financial conditions, the Organization for Economic Co-operation and Development said Wednesday. The Paris-based think tank trimmed its global growth projection for next year to 3.5 percent from 3.7 percent predicted in May, in its latest Economic Outlook report.
The global economy is forecast to expand 3.5 percent in 2020. The outlook for this year was left unchanged at 3.7 percent. "There are few indications at present that the slowdown will be more severe than projected," OECD Chief Economist Laurence Boone said. "But the risks are high enough to raise the alarm and prepare for any storms ahead. Cooperation on fiscal policy at the global and euro level will be needed."
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.