The global economy is expected to slow this year as higher energy prices and ongoing Middle East tensions weigh on consumers and businesses. The Organization for Economic Cooperation and Development now forecasts 2026 global economic growth at 2.8 percent, down from 3.4 percent a year earlier. The OECD warned growth could weaken further if disruptions in the Persian Gulf and Strait of Hormuz continue, potentially falling to 2.1 percent for this year and 1.8 percent in 2027.
