Mumbai, June 3 -- Organization of Economic Co-operation and Development or OECD has stated in a latest update today that global GDP growth is projected to slow from 3.3% in 2024 to 2.9% this year and next year (based on the assumption that tariff rates as of mid-May are sustained). The slowdown is concentrated in the United States, Canada, Mexico and China, with other economies expected to see smaller downward adjustments.
The global outlook is becoming increasingly challenging. Substantial increases in trade barriers, tighter financial conditions, weakened business and consumer confidence, and elevated policy uncertainty all pose significant risks to growth. If these trends continue, they could substantially dampen economic prospects. Ris...