Germany will suffer worst from world economic slowdown, says OECD

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Germany is expected to experience the heaviest blow from a slowdown in the world economy driven by higher interest rates and weaker global trade, the Organisation for Economic Co-operation and Development has warned. In downbeat forecasts for the world economy, the Paris-based organisation said Europe’s largest economy was likely to be the only G20 country apart from Argentina to shrink this year during a wider international slowdown. After a stronger-than-expected start to 2023, helped by lower energy prices and China’s easing of Covid restrictions, the OECD said activity across leading countries was slowing towards the end of the year before...