While that was an upgrade from 2.7% in the OECD's June outlook, global growth was expected to slow to 2.7% in 2024 - down from its estimate of 2.9% in June.
Reuters GraphicsThe improved U.S. outlook for this year helped offset weakness in China and the euro zone, dragged down by Germany - the only major economy expected to be in recession.
In June, the OECD had forecast 5.4% growth this year and 5.1% next year.
The OECD cut the euro zone's growth outlook this year to just 0.6% from 0.9% in June, but forecast it would pick up next year to 1.1% - down from 1.5% in June - as Germany returned to growth.
Though the growth outlook for next year would mostly be weak, the OECD said central banks should keep interest rates high until clear signs inflationary pressures have subsided.
Persons:
Leigh Thomas, Christina Fincher
Organizations:
OECD, Organisation for Economic Development, Reuters, Thomson
Locations:
U.S, Paris, China, Germany