OECD sees eurozone growth slowing sharply next year

Eurozone economic growth projected to slow from 3.1% this year to only 0.3% in 2023, which implies bloc will spend at least part of the year in a recession

The OECD warned further disruptions to energy supplies would hit growth and boost inflation, especially in Europe where they could knock activity back another 1.25 percentage points and boost inflation by 1.5 percentage points.

Global economic growth is slowing more than was forecast a few months ago in the wake of Russia's invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD has said. 

While global growth this year was still expected at 3%, it is now projected to slow to 2.2% in 2023, revised down from a forecast in June of 2.8%, the Organisation for Economic Cooperation and Development said.