Global Economy Risks Slump on Prolonged Iran Conflict, OECD Says - Bloomberg.com

Global Economy Risks Slump on Prolonged Iran Conflict, OECD Says  Bloomberg.com

OECD predicts spate of recessions globally if Iran conflict drags into 2027

Policy forum lays out ‘prolonged disruption’ scenario in which world’s GDP falls to 2.1% this year from 3.4% in 2025 Rural UK ‘particularly at risk’ of diesel shortages If the Middle East conflict drags on into next year it would hit global growth hard, driving some economies into recession and causing energy shortages, according to forecasts from the Organisation for Economic Co-operation and Development. In its latest Economic Outlook, the Paris-based club of industrialised countries lays...

By Heather Stewart Economics editor

OECD warns of global slowdown as U.S.-Iran war stymies economic growth prospects

The OECD has cut its global growth outlook, warning of lasting damage caused by the Middle East conflict.

OECD gives a stark warning while lowering 2027 growth forecasts

Organization for Economic Cooperation and Development is warning of the risks of inflation. But that’s not all.

By Jules Rimmer

Report: Disruption of Mideast energy supplies into next year would slam global economy

Prolonged disruption of energy supplies from the Middle East that lasts into next year would deal a severe blow to the global economy

By David McHugh

OECD revises up S. Korea's 2026 growth outlook to 2.6%

The Organization for Economic Cooperation and Development on Wednesday raised South Korea's economic growth outlook for this year to 2.6 percent from 1.7 percent three months earlier, citing the country's robust chip exports amid the artificial intelligence boom. The Paris-based organization said the country's outbound shipments of chips are expected to continue driving economic growth. South Korea's exports surged 53 percent from a year earlier to a new monthly high of $87.8 billion in May, dri

By The Korea Herald

Italy's GDP to grow 0.5% in 2026 with price shock weighing on economy - OECD

(ANSA) - ROME, JUN 3 - Italy's GDP is set to rise by only 0.5% this year with the energy-price shock triggered by the Iran war weighing on household consumption, investment and exports, the OECD said in its latest economic outlook report on Wednesday. It added that an upswing in inflation caused by the surge in energy prices will reverse recent gains in real wages. The Paris-based organization said Italy was exposed to the conflict in the Middle East because of a high share of its energy come...

By ANSA

OECD sees weaker growth, higher inflation if Mideast war drags on

The global economic outlook hinges on how ​long the war in the Middle East lasts, with recession in some countries and sharply higher inflation a real possibility if ‌it drags...

Court jails 3 minors in murder of Jõgeva man

A court has sentenced three minors to prison terms of between eight and nine and a half years after finding them guilty of murder.