OECD Lowers 2020 Forecast For Global GDP Growth To 2.9%

The Organisation for Economic Cooperation and Development (OECD) lowered its 2020 forecast for the global GDP growth by 0.1 percentage point to 2.9 percent, compared to the interim September forecast

BRUSSELS (UrduPoint News / Sputnik - 21st November, 2019) The Organisation for Economic Cooperation and Development (OECD) lowered its 2020 forecast for the global GDP growth by 0.1 percentage point to 2.9 percent, compared to the interim September forecast.

The 2019 forecast GDP growth forecast has remained the same at 2.9 percent.

In 2021, the OECD expects the global GDP growth to be at 3 percent.

For the euro area, 2019 GDP growth forecast has been raised by 0.1 percentage point to 1.2 percent. In 2020, the GDP growth for the region is expected to be at 1.1 percent, an increase of 0.1 percentage point. For 2021, the forecast is 1.2 percent.

Meanwhile, the global trade growth has been downgraded for 2019 and 2020. In 2019, it is expected to be at 1.2 percent � a 0.9 percentage point decrease compared to May report. In 2020, trade growth was downgraded by 1.5 points to 1.6 percent.