OECD cuts US, China, Eurozone growth forecasts for 2021, 2022

OECD says that inflation is the main risk to the economic outlook

World
  • World GDP growth seen at 5.6% in 2021 (previously 5.7%)
  • World GDP growth seen at 4.5% in 2022 (previously 4.5%)
  • US GDP growth seen at 5.6% in 2021 (previously 6.0%)
  • US GDP growth seen at 3.7% in 2022 (previously 3.9%)
  • China GDP growth seen at 8.1% in 2021 (previously 8.5%)
  • China GDP growth seen at 5.1% in 2022 (previously 5.8%)
  • Eurozone GDP growth seen at 5.2% in 2021 (previously 5.3%)
  • Eurozone GDP growth seen at 4.3% in 2022 (previously 4.6%)
The organisation says that the main risk to the otherwise upbeat global outlook is that if the current inflation spike proves longer and rises more than anticipated.
Amid the pandemic, forecasts to a year ahead are pretty much just a rough guidance and sentiment indicator of the time when it is published. Nobody can even tell how things would be like 2-3 months down the road, let alone a year’s time especially with the virus still being a threat with all the mutations and what not.