David McNamara: Global outlook improves after turbulent six months
US president Donald Trump attends the Ryder Cup in Farmingdale, New York at the weekend. The full effects of Mr Trump’s tariffs may not become apparent until early 2026. Picture: David Davies/PA
With the publication of a slew of autumn economic forecasts, it appears the outlook for the global economy has improved somewhat following a turbulent six months. Most notably, the OECD’s latest projections show a relatively benign near-term outlook, with GDP forecasts revised up compared to it last update in June. It expects global growth to average 3.2% in 2025 (up from 2.9% in June), easing to 2.9% in 2026 (unchanged from June).
For the major economies, the OECD anticipates US growth will slow to 1.8% in 2025 (1.6% in June) from 2.8% last year, followed by a modest 1.5% gain (unchanged) in 2026. Elsewhere, growth in the Eurozone and UK is expected to remain subdued at around 1.0-1.5% in the near-term.
