OECD says real wage growth is supporting household incomes and spending but rising geopolitical tensions pose risk to outlook
OECD headquarters in Paris. The agency upgraded its outlook for the global economy, predicting it would grow by 3.2 per cent in 2024 and 2025 Photograph: Getty
The agency warned, however, that the more positive outlook could still be cancelled out by rising geopolitical tensions, particularly in the Middle East where Israel has launched a series of military strikes on neighbouring Lebanon. Headline inflation is projected to ease from 5.4 per cent in 2024 to 3.3 per cent in 2025 in the G20 economies. If a recent decline in oil prices persists, global headline inflation could be 0.5 percentage points lower than expected over the coming year, it said.
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