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PARIS – The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown with Europe hit hardest, the OECD said on Tuesday, urging central banks to keep hiking interest rates.

World economic growth is set to slow from 3.1 percent this year to 2.2 percent next year before accelerating to 2.7 percent in 2024, the Organisation for Economic Cooperation and Development said, marginally raising its 2022 forecast.

“Our central scenario is not a global recession, but a significant growth slowdown for the world economy in 2023, as well as still high, albeit declining, inflation in many countries,” acting OECD chief economist Alv…

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Europe to be hit hardest in global slowdown -OECD – Vigour Times

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