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OECD cuts U>S> and world growth forecast
Posted on 6/3/25 at 6:52 am
Posted on 6/3/25 at 6:52 am
quote:
The OECD adjusted its inflation forecast, saying “higher trade costs, especially in countries raising tariffs, will also push up inflation, although their impact will be offset partially by weaker commodity prices.”
The impact of tariffs on inflation has been hotly debated, with many central bank policymakers and global analysts suggesting it remains unclear how the levies will impact prices, and that much depends on factors like potential countermeasures.
The OECD’s inflation outlook shows a notable difference between the U.S. and some of the world’s other major economies. For instance, while G20 countries are now expected to record 3.6% inflation in 2025 — down from 3.8% in March’s estimate — the projection for the U.S. has risen to 3.2%, up from a previous 2.8%.
U.S. inflation could even be closing in on 4% toward the end of 2025, the OECD said.
quote:CNBC
The U.S. growth outlook was downwardly revised to just 1.6% this year and 1.5% in 2026. In March, the OECD was still expecting a 2.2% expansion in 2025.
The fallout from Trump’s tariff policy, elevated economic policy uncertainty, a slowdown of net immigration and a smaller federal workforce were cited as reasons for the latest downgrade.
Global growth, meanwhile, is also expected to be lower than previously forecast, with the OECD saying that “the slowdown is concentrated in the United States, Canada and Mexico,” while other economies are projected to see smaller downward revisions.
“Global GDP growth is projected to slow from 3.3% in 2024 to 2.9% this year and in 2026 ... on the technical assumption that tariff rates as of mid-May are sustained despite ongoing legal challenges,” the OECD said.
4
Posted on 6/3/25 at 7:11 am to bigjoe1
Sounds like wishcasting.
Posted on 6/3/25 at 7:23 am to bigjoe1
You and CNBC arent getting tired of posting this doomsday nonsense
Posted on 6/3/25 at 7:49 am to bigjoe1
The "experts" predicting the collapse of the Trump era economy are getting close to global warming experts of years past. Soon they will pivot from collapse to, "economic change"
Posted on 6/3/25 at 9:43 am to bigjoe1
I still find it *incredibly* frustrating that well meaning folks like the OP are rightfully concerned about tariffs hurting growth, but are quite flippant about the negative consequences of other taxes.
My hope is that the tariffs of 2025 convince everyone that things like corporate taxes have the same bad effect that tariffs do
My hope is that the tariffs of 2025 convince everyone that things like corporate taxes have the same bad effect that tariffs do
Posted on 6/3/25 at 9:51 am to HailHailtoMichigan!
Sure taxes are a drag on growth but they're going to be with us until the end of time. With $37 trillion in debt coupled with a Congress that won't make the hard decisions about real spending cuts taxes will be a fact of life.
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