Middle East conflict could slow global growth: OECD
The ongoing Middle East conflict is making waves far beyond the region, with the OECD warning that it could slow down global economic growth.
Disruptions to energy supplies, especially through the Strait of Hormuz, are pushing up prices and fueling inflation worries everywhere.
Because of this, the OECD says the conflict has wiped out an anticipated upward revision to 2026 growth, leaving the projection at 2.9%.
US and Europe's growth prospects dim
The uncertainty is putting a damper on things like tech investment and lower trade tariffs, which usually help economies grow.
In the US growth is expected to dip from 2% in 2026 to 1.7% in 2027, with inflation hitting around 4.2%.
Europe's outlook is even tougher: GDP growth there could drop to just 0.8% in 2026 thanks to high energy costs, though a small rebound might follow.
China's economy seems steadier at 4.4%.
The OECD suggests governments offer targeted, time-limited support and calls on central banks to remain vigilant.