Momentum in the global economy is shifting away from emerging markets and back to advanced economies after years in the doldrums, the Organisation for Economic Co-operation and Development said yesterday, significantly revising its economic forecasts.
The Paris-based international economic organisation said problems in emerging economies had largely been offset by a brighter outlook in Europe, the US and Japan.
Jorgen Elmeskov, the OECD’s deputy chief economist, said the broad outlook for the world economy was similar to that in May, “but the numbers for advanced economies are a tad higher, and for France and the UK more than a tad higher”.
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