Mumbai, Sept. 24 -- The Organisation for Economic Co-operation and Development said in a report on Tuesday that the full impact of the massive hike in trade tariffs announced by the U.S. is yet to be felt though early effects are becoming increasingly evident.
In the interim outlook report, the Paris-based think tank raised the global growth forecast to 3.2 percent from 2.9 percent, citing the better-than-expected economic resilience in the first half of the year. Thus, a modest slowdown from the 3.3 percent expansion in 2024 is projected.
The outlook for next year was retained at 2.9 percent. Global growth is set to slow next year as front-loading ends and higher tariff rates and still-high policy uncertainty dampen investment and trade....