United Kingdom economy will grow 1.6% this year, says OECD

Higher US Rates Could Unleash Damaging Volatility OECD
Higher US Rates Could Unleash Damaging Volatility OECDMore
Author

08 March, 2017

"The economic nationalism is a much bigger wildcard because we don't know how the language translates into policy at this point", OECD Chief Economist Catherine Mann told Reuters.

The modest pick-up in global growth in 2017-18 reflects the effect of ongoing and projected fiscal initiatives, notably in China and the United States, and initiatives in other economies such as Canada, the report says.

The Economic Outlook report projected the USA economy to grow by one percentage point to 2.4 percent this year on strong domestic demand.

However, it warned that the "projected modest upturn" could be derailed by a number of factors, including the possibility of a downturn in markets, greater barriers to trade set up by governments, and uncertainties about the path of interest rates around the world.

The strength of financial market valuations appears disconnected to the outlook for the real economy, where the growth of consumption and investment remains subdued, and there is a risk of global financial market tensions as interest rates adjust and diverge across the major economies.

Elderly twins die after being in the cold overnight
It's highly improbable to find out which one of them fell first or if one of the women fell while trying to help the other one. Police said a neighbor found Martha Williams and Jean Haley, both 97, dead at Haley's Opechee Drive home Saturday morning.

Katy Perry & Orlando Bloom Break Up After Year Of Dating
All I can tell you is their reps have confirmed the split and this person is devastated about it already, so you know it's legit. The former couple didn't offer a reason for their breakup, they just said they were "taking respectful, loving space".

Senate confirms Wilbur Ross as Trump's Secretary of Commerce
Ross has divested himself of most of his holdings to avoid conflicts of interest in anticipation of his confirmation. Twenty-one Democratic Senators joined with all of the Republicans in the chamber to approve Ross' nomination.

The U.S. and Canada are likely to outperform major global economies in the next two years, a prominent Paris-based think tank said Tuesday, even as it cautioned that soaring stock markets may be overestimating the pace of near-term growth. Now, more than ever, governments need to take actions that restore people's confidence while at the same time resisting turning inwards or rolling back numerous advances that have been achieved through greater worldwide co-operation'. However, it was forced to acknowledge better recent growth than expected, with GDP expanding a year ago by 1.8 per cent.

Next year, the US economy is projected to grow by 2.8 per cent and Canada's is expected to expand by 2.2 per cent, ahead of the other G7 countries.

The global GDP forecast from the OECD is 3.3 per cent, which is higher than the 3 per cent of 2016. But the forecast for 2018 was cut to 2.8 percent from 3.0 percent. The forecast for 2018 remains unchanged at 1%.

In China, growth is projected to slop to 6.5% this year and down again to 6.3% next year as the Chinese economy transitions from external demand and heavy industry towards domestic consumption and services. Coherent and committed policy action is needed to simultaneously raise growth rates and improve inclusiveness'.

The organization said fiscal policy should be used to boost demand, especially if coupled with structural reform.


More news


  • Alexis Sanchez future? Wenger denies Arsenal bust-up…

    Alexis Sanchez future? Wenger denies Arsenal bust-up…

    Having lost the first leg 5-1 at the Allianz Arena in Munich, Arsenal are virtually out of the Champions League. However, Wenger explained his decision as a purely tactical one and claimed he did not regret his selection.

    ROE of General Electric Company (NYSE:GE) stands at 9.8

    The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink . The company rocked its 52-Week High of $64.36 on Feb 14, 2017 and touched its 52-Week Low of $48.45 on Jun 27, 2016.

    Betsy DeVos releases statement on HBCUs, Twitter points out she's clueless

    During my 12 years as a teacher, I have experienced firsthand the failed initiatives that have attempted to "reform" education. Education Secretary Betsy DeVos heralded Trump's commitment in an interview with The Post .
  • Surprise! Illegal alien detained after holding new conference

    Surprise! Illegal alien detained after holding new conference

    An ICE official told the Huffington Post that Vargas wasn't arrested in February because she said she was protected by DACA. Two days later, a response from ICE said that "prior existing commitments" would keep Homan from the hearing.

    Strong December quarter boosts Australian economy

    It also marked 102 quarters without recession, just one quarter short of the all-time record held by the Netherlands. Indeed, the International Monetary Fund (IMF) has predicted that Nigeria's economy will grow by 0.8 percent in 2017.

    Joel Embiid Out Indefinitely With Left Knee Injury

    Embiid will have an MRI on that knee on Monday after suffering a minor meniscus tear. Now he's listed as out indefinitely with swelling in his knee.
  • Toddler dies after being left in hot auto  all day in Brandon

    Toddler dies after being left in hot auto all day in Brandon

    The local business said Jacob was not in their care at the time of his death and his half-sister "made a tragic mistake". Tuesday night, Silva-Tello returned home with her parents with her head covered with a jacket after a devastating day.

    Status for Opening Day in jeopardy

    Wright's injury will hamper the club's depth to begin the season, and could present a recurring problem once again for the Mets. Unable to throw until late March, Wright will likely be limited to DH in Grapefruit League games as he rests his shoulder.

    Some Nintendo Switch Games Don't Support TV Mode

    The Switch is also region-free, so if your Nintendo Account originates in Japan, you'll have access to games like VOEZ . Surrounded by excited fans and curious onlookers, the event will kick off a new era in Nintendo gaming.
  • Ukraine, Russia Face Off At The International Court In The Hague

    Zerkal requested an immediate court order to stop what she called Russia's abuses until the judges have heard the case in full. Russia has said it took control of Crimea to protect ethnic Russian living there from discrimination.
    Mauricio Pochettino sends warning to Chelsea after Tottenham's win over Everton

    Mauricio Pochettino sends warning to Chelsea after Tottenham's win over Everton

    But Dele Alli's wonderful finish in stoppage time disabused them of that notion and the substitute Enner Valencia's even later strike counted for nothing.
    Eurozone inflation above target for first time in 4 years

    Eurozone inflation above target for first time in 4 years

    The core inflation rate, excluding food, energy and tobacco, held at 0.9% for the month which was also in line with expectations. Jennifer McKeown at Capital Economics said she expected the increase to 2.0 percent to "prove temporary".