Posted on 11/22/2022 5:44:21 AM PST by Oldeconomybuyer
PARIS (Reuters) -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, adding that fighting inflation should be policymakers' top priority.
National outlooks vary widely, although Britain's economy is set to lag major peers, the Organisation for Economic Cooperation and Development said on Tuesday.
It forecast that world economic growth would slow from 3.1% this year - slightly more than the OECD foresaw in its September projections - to 2.2% next year, before accelerating to 2.7% in 2024.
The OECD said the global slowdown was hitting economies unevenly, with Europe bearing the brunt as Russia's war in Ukraine hits business activity and drives an energy price spike.
It forecast that the 19-country euro zone economy would grow 3.3% this year then slow to 0.5% in 2023 before recovering to expand by 1.4% in 2024. That was slightly better than in the OECD's September outlook, when it estimated 3.1% growth this year and 0.3% in 2023.
(Excerpt) Read more at money.usnews.com ...
Oh come on. Harbor Freight has solar panels. Suck it up freaks. Or might I suggest wool socks
What about women and minorities?
Europe to Be Hit Hardest in Global Slowdown - GOOD. Europe deserves everything it gets GOOD AND HARD !!!!
Those who hold Europe, the Euro-Weenies and Euro-Trash in high regard are going to be able to watch them ALL take it in the shorts.
Note to Europe, it gets COLD in winter.
Maybe the “Asians” and North Africans will leave…
cut the trees
so you don’t freeze
Well played sir!
Excellent!
Better them than me, and they deserve it.
BS.. Obama started a pipeline war in Syria and they continue in Ukraine. US taxpaying citizens are the ones on the hook. Grind the working class between the millstones of taxation and inflation.
… US taxpaying citizens are the ones on the hook.…
57% of U.S. households paid no federal income tax last year as Covid took a toll, study says
Wait till the 3-8 million refugees from Ukraine that are leaving due to Russia hammering Ukraine’s energy and power grid migrate into the EU as winter sets in.
EU implosion.
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