OECD slightly increases annual growth outlook, warns headwinds remain

Investing.com -- The global economy is now expected to grow at a slightly faster pace this year, according to the latest forecast on Wednesday from the Organization for Economic Co-operation and Development.

OECD said it now expects the global economy to expand 2.7% this year, a slight increase from its previous projection of 2.6%. However, when not including the pandemic-hit year of 2020, this would still be the lowest annual rate of growth since the 2008-2009 financial crisis, it noted.

Lower energy prices are easing the strain on household budgets, while business and consumer sentiment is also improving, the Paris-based organization said. The re-opening of China has also helped to boost global activity.