OECD revises 2024 global growth forecast upward, but notes risks

China held back by housing, consumption woes, but Asia overall still bright

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The Chinese economy is still weighed down by weak consumption and property market woes. © Reuters

MAILYS PENE-LASSUS, Nikkei staff writer

PARIS -- The Organisation for Economic Cooperation and Development upgraded its growth forecast for the global economy to 2.9% for 2024 from its 2.7% forecast late last year, although it pointed to the Red Sea attacks and a widening Middle East conflict as risks.

Global growth is expected to slow to 2.9% in 2024 from 3.1% in 2023, before bouncing back to 3% in 2025, the Paris-based OECD said in its Interim Economic Outlook released on Monday.

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