OECD Lifts Economic Outlook On Stronger-Than-Expected US, Chinese Recoveries

• The global economy appears to be recovering from the coronavirus slump faster than thought only a few months ago thanks to improving outlooks for China and the United States, the OECD said on Wednesday.
• The world economy is on course to contract 4.5% this year, the Organization for Economic Cooperation and Development said, which - though unprecedented in recent history - was up from the 6% contraction that it forecasted in June.
• Provided the virus is kept from spreading out of control, the global economy will bounce back into growth next year by expanding 5%. This expectation was trimmed from a June forecast of 5.2%, the Paris-based policy forum said.

(Source: Reuters