OECD lifts China's 2023 growth forecast to 5.3%

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The Organization for Economic Co-operation and Development (OECD) has lifted its projection of China's 2023 GDP growth to 5.3 percent from a previous estimate of 4.6 percent, according to its latest Economic Outlook report released Friday.

The OECD predicted that the global economy will grow 2.6 percent this year, higher than its last forecast of 2.2 percent in November, but warned that the recovery remains "fragile."

The GDP growth in the United States is expected to slow from 1.5 percent this year to 0.9 percent in 2024 as high interest rates moderate demand, said the report.

(Cover: A view of Beijing's Central Business District, Beijing, China, February 14, 2023. /CFP)

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