OECD raises 2021 global growth outlook while cutting Japan forecast

Economy Society

The Organization for Economic Cooperation and Development on Monday upgraded its forecast for global economic growth this year but cut its projection for Japan, citing a resurgence of coronavirus infections and its slow vaccine rollout. The world's gross domestic product is projected to grow 5.8 percent in 2021, up from 5.6 percent previously forecast in March, with progress in vaccinations and governments' fiscal spending expected to underpin the economic recovery, the Paris-based club of 38 mostly wealthy nations said in its latest economic outlook. "In the advanced economies, the progressiv...

Kyodo News

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