OECD Says Economic Growth May Slow Down In Several Major Countries

Several major economies could witness anemic economic recovery from the 2020 coronavirus-related slump in the near future, judging by most recent economic indicators, the Organization for Economic Co-operation and Development (OECD) said on Monday

MOSCOW (UrduPoint News / Sputnik - 17th January, 2022) Several major economies could witness anemic economic recovery from the 2020 coronavirus-related slump in the near future, judging by most recent economic indicators, the Organization for Economic Co-operation and Development (OECD) said on Monday.

"The strong growth rebound since the depth of the COVID-19 related economic crisis in 2020 may soon moderate in several major economies according to the latest OECD Composite leading indicators (CLIs)," the OECD.

The organization listed Canada, Germany, Italy and the United Kingdom among the OECD countries with a clear drop in momentum, adding that Japan, the United States, France and the eurozone as a whole are still enjoying stable growth.

"Among major emerging-market economies, the CLI for Russia continues to rise though signs of moderating growth have now emerged. The CLI for China (industrial sector) continues to point to a loss of momentum and has now dropped below its long-term trend. In India, the CLI continues to anticipate stable growth, whereas in Brazil the indication is now for a sharp growth slowdown," the OECD stated.

As the COVID-19 epidemic was unfolding in 2020, many countries adopted severe restrictions to stop the virus from spreading and disrupting the global economy in the process. The following year saw a substantial recovery following the lifting of some restrictions coupled with the international COVID-19 vaccine rollout.