Gloomy forecast for 2024 – OECD: dent in the global economy, Austria in the red

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The industrialized country organization OECD expects slower growth in the world economy next year. After an increase of 2.9 percent this year, an increase of 2.7 percent is expected in 2024, according to the current forecast. The prospects for Austria look particularly bleak.

According to the OECD, the domestic economy is expected to shrink by 0.4 percent this year. According to the forecast presented on Wednesday, things will only improve slowly over the next two years: the OECD predicts growth of 0.6 percent for 2024 and an increase of 1.5 percent for 2025.

Rising incomes and falling interest rates are expected worldwide
This means that the red-white-red economic performance is clearly lagging behind global developments: after 2.7 percent in 2024, an increase of three percent is expected for 2025, because incomes are expected to rise and key interest rates are expected to fall.

The industrialized countries are falling behind
According to the OECD, growth will be better in emerging economies than in industrialized countries. Growth in Europe will be relatively moderate compared to North America and the major Asian economies.

Inflation back under control in 2025
Consumer price growth in the major industrialized and emerging countries (G20 group) will continue to decline gradually. Inflation in most major economies is expected to return to target by 2025.

Source: Krone

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