PARIS–The Organization for Economic and Cooperation and Development has released its outlook for the global economy for 2023, and its notable for being more optimistic than other forecasts that have been made.
The organization, which is made up of the world’s most developed nations, expects 2.2% growth next year, and says the world won’t fall into recession. As the New York Times noted, that’s a “fair bit better than Goldman Sachs, which forecast last week that global output would rise 1.8% next year.”
The O.E.C.D. is also predicting there will be no recession for every major region in the world, despite facing the biggest energy shock since the 1970s.
“The inflation outlook is steady, but still high. The O.E.C.D. doesn’t believe rising prices will go away anytime soon. Energy prices are pushing inflation higher, especially in Europe. But it says many of the pressures appear to be easing, pointing specifically to shipping costs,” the Times stated. “All in, the organization predicts prices globally will rise 6.5% next year, down from over 9% this year. “
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