Friday, 20 October, 2017

OECD: Global Growth Headed for Six-Year High

The OECD has predicted South Korea’s gross domestic product will grow from 2.6% to 2.8% in 2018 World economy seen picking up political uncertainty a risk
Heather Davidson | 08 June, 2017, 01:54

Researchers from the OECD believe UK GDP growth will grow 1.6% this year but will drop to 1% in 2018.

While Mexican investments that have since been put on hold are expected to resume, more turbulence from a protectionist push can't be ruled out, according to the OECD economic outlook. The OECD expects USA growth this year of 2.1%, down from the 2.4% forecast it gave in March.

The European Central Bank should wind down its bond purchases in 2018 and raise one of its key interest rates by the end of that year, the Organization for Economic Cooperation and Development said Wednesday.

The OECD's warnings come a week after the International Monetary Fund said a further tightening of macro-prudential and tax-based measures to mitigate speculative and investment activity should be considered.

OECD chief economist Catherine Mann said, however, that "policymakers can not be complacent".

"Policies have supported private confidence and consumption, but household spending is projected to ease as the combination of a weakening labour market and higher inflation reduces real wage growth", it said.

Growth projections for the United Kingdom for this year and next was retained at 1.6 percent and 1 percent, respectively.

Spicer won't say whether Trump has confidence in Sessions
The second version, however, has also been blocked, and last week the Justice Department appealed to the Supreme Court . One of Trump's top aides, Stephen Miller, worked for Sessions for years before joining Trump's orbit.

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Nintendo Switch now opened its online gaming service for free until the 2018 launch, as per its official site . It should be noted that the Nintendo Switch version of the game will differ from its next-gen counterparts.

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Huerta has predicted $13 billion in benefits to the government and aircraft operators by 2020, with greater gains after that. Today, none of Southwest Airlines' fleet is ready to switch to a GPS system, and only 10% of the fleet at American is ready.

The OECD said the recovery of trade and investment flows had offset a weaker outlook in the US.

The OECD forecasts the global economy is set to grow 3.5 per cent this year though, which will be its best performance since 2011, with growth set to edge up to 3.6 per cent in 2018.

It said the modest growth is supported by an upturn in exports, which have been on a roll since November a year ago on the back of brisk overseas sales of semiconductors.

Lifted by improving worldwide trade in Asia and fiscal stimulus, Japanese growth was seen at 1.4 percent this year before slowing to 1.0 percent next year, both slightly raised from the OECD's March estimates of 1.2 percent and 0.8 percent respectively.

That in turn was supporting strong imports and helping to fuel a revival in Asian trade.

The Paris-based institution said poor weather has disrupted commodity exports and the rebound in commodity prices appears to have ended.

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