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Non-OECD leads economic expansion

  • Economic output (GDP) growth consists of both income (measured by GDP per capita) and population growth
  • OECD GDP growth trend reflects declining population growth and steady rise of income
  • Non-OECD GDP growth to 2025 reflects improving outlook for income growth while population growth slows
  • Non-OECD GDP growth post 2025 will moderate due to lower population growth and slowing gains in income