OECD expects slower global growth in 2024 amid China slowdown

The Organization for Economic Cooperation and Development on Tuesday cut its global growth outlook by 0.2 percentage point to 2.7 percent in 2024, reflecting a slowdown in China amid real estate woes.

The downward revision comes as the OECD expects global growth to be “subpar” and “moderate” in 2023 and 2024, citing uncertainty over the negative impacts of aggressive interest rate hikes in major economies like the United States, among other factors.

For 2023, the Paris-based organization slightly upgraded the growth outlook to 3.0 percent from its 2.7 percent estimate in June. “Uncertainty abo...