On September 23, the Organisation for Economic Co-operation and Development (OECD) highlighted on Wednesday that investments propelled by artificial intelligence (AI) have contributed to the global economy performing marginally better than anticipated this year. Nevertheless, escalating energy shocks are exerting pressure on the economic outlook for 2027. In its newly issued Interim Economic Outlook report, the OECD noted that following a 3.4% global economic growth last year, it is projected to decelerate to 2.9% in 2026, still marginally exceeding the 2.8% forecast made in June. Looking towards 2027, the global economic growth momentum is anticipated to diminish due to the commodity price shocks stemming from conflicts in the Middle East. The OECD forecasts that the global economic growth rate will only reach 3.0%, lower than the 3.1% projected in June. The OECD stated that the significant increase in AI infrastructure spending this year, spanning from data centers to semiconductors, has emerged as a crucial factor bolstering economic resilience. This has spurred economic growth in the United States and amplified technology product exports from Japan and South Korea. However, the OECD also cautioned that the global outlook is fraught with multiple risks, encompassing volatility in energy markets, extreme weather events triggered by a potent El Niño phenomenon, surging government bond yields, and AI investment returns falling short of expectations. Should these risks materialize, the global economic growth rate is projected to decline by 0.7 percentage points next year, while the global inflation rate is expected to rise by 1.1 percentage points.
