War in Ukraine will take global economic toll, group warns

By The Associated Press

The Organization for Economic Cooperation and Development is warning that Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe. In a grim assessment out Thursday, the 38-country OECD said that over the next year the conflict would reduce the broadest measure of economic output by 1.08% worldwide. It would drop by 1.4% in the 19 European countries that share the euro currency and by 0.88% in the United States. But the organization said government spending and tax cuts could limit the damage.