Global Economic Prospects
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OECD warns of global slowdown as U.S.-Iran war stymies economic growth prospects
The Organisation for Economic Cooperation and Development has slashed its global growth outlook, warning that the economic damage from the U.S.-Iran war could dramatically worsen unless a durable peace settlement is reached quickly. In its June Economic Outlook, the OECD said global growth is now expected to slow from 3.4% in 2025 to 2.8% in 2026, before recovering to 3.1% in 2027 — should the current energy price shock start easing by the middle of this year. But that's assuming a...
Global growth is slowing to lowest level since pandemic, says World Bank
Forecast for this year downgraded to 2.5% and inflation expected to jump as a result of war in the Middle East Global economic growth will slow to 2.5% this year as a result of the war in the Middle East – the weakest since the Covid pandemic – as inflation and borrowing costs rise, the World Bank has warned. The Washington-based development bank has downgraded growth forecasts for two-thirds of countries in its half-yearly Global Economic Prospects report. The bank estimated that global...
Global growth is slowing to lowest level since pandemic, says World Bank
Forecast for this year downgraded to 2.5% and inflation expected to jump as a result of war in the Middle East Global economic growth will slow to 2.5% this year as a result of the war in the Middle East – the weakest since the Covid pandemic – as inflation and borrowing costs rise, the World Bank has warned. The Washington-based development bank has downgraded growth forecasts for two-thirds of countries in its half-yearly Global Economic Prospects report. The bank estimated that global...
India retains growth edge with 6.6% growth, World Bank forecasts; cuts global outlook
The World Bank has lowered its global growth forecast for 2026 to 2.5%, citing the economic fallout from the ongoing conflict in the Middle East, rising energy prices and heightened uncertainty across markets. In its latest Global Economic Prospects report, the lender warned that global growth could slow further to 1.3% if energy supply disruptions become more severe and trigger significant stress in financial markets. Global growth is expected to ease from 2.9% in 2025 to 2.5% in 2026,...
US-Iran war to pull global economy to post-COVID low: World Bank
US-Iran war to pull global economy to post-COVID low: World Bank The Washington institution cut its global growth forecast by 0.4 percentage points to 2.5 percent, citing surging energy prices, inflation and borrowing costs. The conflict in the Middle East is set to bring global economic growth to its slowest since the COVID-19 pandemic, the World Bank has warned. In its latest Global Economic Prospects report, published on Thursday, the Washington-based institution cut its global growth...
OECD cuts 2026 global growth forecast and warns of recession risk if Iran war persists
The war in the Middle East has dented economic growth prospects worldwide, with a more severe shock likely if no effective ceasefire is agreed before 2027, the OECD warned Wednesday. The OECD has downgraded its global growth outlook, warning that rising energy prices, geopolitical tensions and persistent inflation are weighing on the world economy and could push several countries into recession if disruptions continue. In its quarterly update, the organisation, which represents 38...
Keeping India's growth story intact: 5 lessons from Middle East conflict that should not be ignored
Led by a growing domestic demand and a favourable demographic dividend, the Indian economy and its growth story have been called fundamentally strong by economists. But short-term global economic shocks, like the ongoing Middle East conflict, have the potential to temporarily slow the growth story - a fact that cannot be ignored if India hopes to be among the top three world economies in the coming years. In its latest Economy Watch report, EY has pointed out the need for India to ‘recast...
Deep learning four decades of human migration
Abstract Human migration is a fundamental driver of global demographic change, shaping population structure, labour markets and social policy across countries1,2,3. Although long-term migration patterns are often linked to economic development4, they can shift rapidly in response to shocks such as conflict, environmental crises and political change5. Despite its importance, migration remains difficult to measure consistently: existing data are sparse, concentrated in high-income settings and...
Oil rises, stocks slip on fragile Mideast peace hopes
Oil rises, stocks slip on fragile Mideast peace hopes NEW YORK: Oil prices rose on Wednesday (Jun 3), edging closer to US$100 a barrel while stocks fell as further attacks between the United States and Iran dented hopes of an imminent peace deal. Wall Street indexes tumbled and European stocks were mostly in the red, following a mixed showing in Asia.
How Spain Avoided the Global Populist Backlash
As recently as five years ago, Spain was no one’s idea of an economic success story. Southern European countries have long been notorious for lagging behind their neighbors to the north. Portugal, Italy, Greece, and Spain were referred to by the intentionally unflattering nickname “PIGS” after they had to be bailed out following the 2008 financial crisis.