Global Economy Projected to Grow 3.6% in 2014

The Organization for Economic Cooperation and Development recently explained the current economic outlook for different regions across the globe, stating that growth prospects are most promising in emerging economies such as those in Eastern Europe, South America, some parts of South Africa and Asia, and weakest in Europe.

OECD Deputy Secretary-General and Chief Economist Pier Carlo Padoan explained that many areas of the global economy remain vulnerable in the aftermath of deep recessions.

“The global economy continues to expand at a moderate pace, with some acceleration of growth anticipated in 2014 and 2015. But global growth forecasts have been revised down significantly for this year and 2014, in large part due to weaker prospects in many emerging market economies. Downside risks dominate and policy must address them,” he said.

 Learn more about the global economic outlook here: