The OECD expects global GDP to fall less than expected this year

By: Trademagazin editor Date: 2020. 09. 17. 11:05

The OECD expects a smaller global economic downturn than previously forecast in June, mainly due to better-than-expected performance by China and the United States in the first six months as a result of huge fiscal spending to boost the economy.

The report does not deal with Hungary separately.

In its latest forecast released on Wednesday, the Organization for Economic Co-operation and Development (OECD) expects economic downturn to be 4.5 percent this year instead of the 6 percent fall estimated in June, but has shifted its GDP growth forecast for next year from 5.2 percent to 5 percent.
Global GDP grew 2.6 percent last year.