National outlooks vary widely, although Britain’s economy is set to lag major peers, the Organisation for Economic Cooperation and Development said on Tuesday.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
It forecast that the 19-country eurozone economy would grow 3.3 per cent this year then slow to 0.5 per cent in 2023 before recovering to expand by 1.4 per cent in 2024. That was slightly better than in the OECD’s September outlook, when it estimated 3.1 per cent growth this year and 0.3 per cent in 2023.
Outside the eurozone, the British economy was seen shrinking 0.4 per cent next year as it contends with rising interest rates, surging inflation and weak confidence. Previously the OECD had expected 0.2 per cent growth.
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