Economic Buzz: OECD Sees Global Economy Expanding By 3.8% In 2018

The Organization for Economic Cooperation & Development (OECD) said in a latest update that the global economy is undergoing stronger growth underpinned by a rebound in trade, higher investment and buoyant job creation. Nonetheless, the OECD emphasized significant risks posed by trade tensions, financial market vulnerabilities and rising oil prices to global economy. In the latest Economic Outlook, the Paris-based think tank said the global economy is set to grow 3.8% this year and 3.9% in 2019. In March, the agency had projected 3.9% growth for both 2018 and 2019. According to the latest forecast, growth in the OECD area is set to remain around 2.5% per annum. The United States will expand 2.9% in 2018 and 2.8% next year while the Eurozone is forecast to grow 2.2% in 2018 and 2.1% next year.