OECD raises global growth outlook on strength of U.S. economy

The global economy is on course to hold up better this year than expected only a few months ago, as an improved outlook in the United States offsets euro zone weakness, the OECD said Monday.

World economic growth is expected to ease from 3.1% in 2023 to 2.9% this year, better than the 2.7% expected in November in the Organisation for Economic Cooperation and Development’s last outlook.

In an update of its forecasts for major economies, the Paris-based OECD left its 2025 global estimate unchanged at 3.0%, when growth is expected to be boosted by major central banks rate cuts as inflation pressures subside.