Economic Buzz: OPEC Global GDP growth forecast for 2026 up slightly

The Organization of the Petroleum Exporting Countries (OPEC) raised its estimate for global economic growth in 2026 from 3% to 3.1% in its November report issued on Wednesday. For 2027, OPEC kept its prediction at 3.2%.

OPEC predicted that the United States' gross domestic product (GDP) will expand by 2.3% in 2026 and 2.1% in 2027, raising both forecasts by 0.1 percentage points. The Eurozone's economic growth was seen as going up by 1% in 2026 and 1.1% in 2027. The figures were revised upward by 0.2 and 0.1 percentage points, respectively. China's estimates were kept at 4.6% in 2026 and 4.5% in 2027. Russia's economy was predicted to expand by 1% in 2026 and 1.5% in 2027, lowering the first figure by 0.1 percentage points and keeping the other the same.

Lastly, OPEC predicted the global economy will remain robust in 2027, thanks to developments in AI sector and consumer spending.

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