Posthaste: Canada to take brunt of one of the worst slowdowns since the pandemic, warns OECD

By Pamela Heaven – Yahoo finance

The global economy is headed for a downturn, and North America will be hardest hit, the world’s economic watchdog warned today.

The Organisation for Economic Co-operation and Development said Tuesday that barriers to trade, tighter financial conditions, weaker business and consumer confidence and heightened policy uncertainty will sap global growth in 2025.

Slashing its forecast for the second time this year, the organization now sees global gross domestic product slowing from 3.3 per cent in 2024 to 2.9 per cent this year and in 2026, assuming that U.S. President Donald Trump’s tariff rates are sustained despite legal challenges.