The Organisation for Economic Co-operation and Development said in a report on Tuesday that the full impact of the massive hike in trade tariffs announced by the U.S. is yet to be felt though early effects are becoming increasingly evident.
In the interim outlook report, the Paris-based think tank raised the global growth forecast to 3.2 percent from 2.9 percent, citing the better-than-expected economic resilience in the first half of the year. Thus, a modest slowdown from the 3.3 percent expansion in 2024 is projected.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.