OECD Says The Global Slowdown Will Hit Different Countries Unevenly

The OECD said the global slowdown was hitting economies unevenly, with Europe bearing the brunt, but the world should avoid an outright recession next year https://t.co/ceqE2enui4 pic.twitter.com/NFqdqKhBOv

— Reuters (@Reuters) November 22, 2022

Reuters: Europe to be hit hardest in global slowdown -OECD 

* Europe is set to take the brunt of a global slowdown next year. 

* But the world should avoid an outright recession. 

* That’s according to new estimates from the OECD. 

* Organisation boss Mathias Cormann says there are just too many headwinds: 

"It is sadly a statement of the obvious that the global economy continues to face significant challenges. Russia's unprovoked, unjustifiable and illegal war of aggression continues to rage. Global growth is slowing down. It continues to slow down and confidence has weakened. Inflation has become broad based and persistent, and in response central banks have been raising policy rates and global financial conditions have tightened significantly." 

The OECD says the euro zone will grow just 0.5% next year. Regional powerhouse Germany is expected to do even worse, with a contraction of 0.3% forecast. Outside the euro zone, the UK is set to do worse still.  

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WNU Editor: The OECD report is here .... Russia’s war of aggression against Ukraine continues to create serious headwinds for global economy, OECD says (OECD).

 OECD Says The Global Slowdown Will Hit Different Countries Unevenly  

UK economy to be worst hit of all G7 nations, OECD report says -- SKY News  

UK 'will be worst-performing economy in the G20 apart from Russia next year' -- Daily Mail  

Ukraine war continues to slow global growth, new report says -- Boston Globe  

World economy to grow 3.1% this year, down from 5.9% : OECD -- Al Jazeera