OECD reports Q2 GDP growth and updates 2018 forecast

For emerging countries, the OECD raised by 0.2 percentage point its forecast for China’s economy to expand this year, to 6.8 per cent. The outlook for 2018 was similarly raised, to 6.6 per cent.

The forecasts for India were cut significantly, with growth this year now seen at 6.7 per cent, down 0.6 point from the forecast the OECD made in June. The growth outlook for 2018 was cut by 0.5 point to 7.2 per cent.

The rebound in global growth is not yet secure, the OECD warned on Wednesday, with weak investment by businesses and slow growth in trade and wages raising doubts whether the current momentum will be sustained.

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