The September 2026 OECD Economic Outlook is out. There is nothing too earth-shattering here, more like an extrapolation of current/recent trends. The project global (real) economic growth ticking up a bit from 2.9% in 2026 to 3.0% in 2027. In the U.S., the numbers are 2.2% and 2.1%, and in the Euro area 1.0% and 1.0%. So far, the world has been more resilient to the disruptions of the Iran War and U.S. tariff dumb-fuckery (I can’t bring myself to use the word “policy” which implies some sort of underlying theory or strategy) than expected, although the situation gets riskier the longer it goes on. While there are differences in inflation between countries, the inflation trend is global and projected to gradually ease going forward. China has been a special case of recent deflation, which they see ticking back up to a small positive number by next year. Government debt is concerning nearly worldwide, but they don’t see the bottom falling out suddenly or imminently. El Nino and “extreme storms” (the words “climate change” do not appear in this report) are likely to affect food prices which will affect low-income households the most. AI holds risks of short-term failure to meet market expectations, and medium- to long-term productivity enhancement.