PARIS, Sept. 23 (Xinhua) -- Global gross domestic product (GDP) growth is projected to decrease from 3.3 percent in 2024 to 3.2 percent in 2025 and further to 2.9 percent in 2026, the Organization for Economic Cooperation and Development (OECD) said Tuesday in its latest Economic Outlook.
According to the OECD, the downward revision from its previous forecast is due to "front-loading ceases and higher tariff rates and still-high policy uncertainty" that dampen investment and trade.
The global growth in first half of 2025 was more resilient than anticipated, especially in many emerging-market economies. Industrial production and trade were supported by front-loading ahead of higher tariffs, the report noted.
Since May, U.S. bilateral tariff rates have increased on almost all countries. The OECD estimated the effective U.S. tariff rate rose to 19.5 percent at the end of August, the highest level since 1933. ■
