Saturday, 19 January, 2019

OECD upgrades eurozone and China growth forecasts; United Kingdom and USA unchanged

Reserve Bank assistant governor Luci Ellis SHARE Share on Facebook SHARE Share on Twitter TWEET Link
Christy Curtis | 21 September, 2017, 00:20

The Paris-based economic think tank says it now expects the Canadian economy to grow by 3.2 per cent this year, best in the G7.

Not even a 13% increase in the euro's strength against the dollar since the start of the year would knock back euro zone growth as firm global demand drove exports, Mann said.

Expanding investment, employment and trade support have increased growth across most countries, but the recovery of business investment and trade remain too low to sustain healthy growth and wage growth has been "disappointing on average".

Higher interest rates usually have a cooling effect on growth, helping to keep inflation in check. "Monetary policy should remain accommodative in some economies but with an eye on financial stability so as to remain supportive of further rebalancing towards fiscal and structural initiatives".

The risk of an interest rate rise next year has become a hot topic among economists following the recent run of strong jobs growth. Improvements in wage growth, productivity and regulation in world markets will need to be made, however, if the prediction is to be met, it said. Growth in China is revised upward, to 6.8% this year and a more moderate 6.6% next year, as stimulus measures ease and efforts continue to stabilise corporate debt and rebalance the economy.

Growth forecasts for Germany, France and Italy were also raised. Its June forecast noted the economy was gaining steam, propelled by government spending on infrastructure, social housing, education and innovation, as well as rising household wealth and rebounding business investment, particularly in the resource sector.

The previously identified growth slowdown is expected to continue through 2018, while uncertainty remains over the outcome of negotiations around the decision to leave the European Union, the OECD said.

Globally, the pace of expansion is expected to pick up this year compared to 2016, with a further uptick projected in 2018. The projection for next year was kept at 2.3%.

Growth in Japan is expected to be 1.6 per cent this year and 1.2 per cent next year.

Recommended

  • Holder gives Windies hope in delayed England ODI

    Holder gives Windies hope in delayed England ODI

    But Holder, who hit Willey to the long-on rope, gave the innings some much-needed impetus. West Indies won the T20 on Saturday.
    New Call of Duty: WWII Trailer Details the Story

    New Call of Duty: WWII Trailer Details the Story

    This will be our second look at the game's campaign , having been only shown once during the initial reveal in a short trailer . Day two will bring us details about the squad you'll be part of in the campaign, which Sledgehammer teased at the game's reveal.
    Robbie Savage enjoyed this Liverpool fan's extraordinary rant after Burnley draw

    Robbie Savage enjoyed this Liverpool fan's extraordinary rant after Burnley draw

    Burnley man Jonathan Walters has previously netted on seven occasions against Liverpool . Why we feel so disappointed or frustrated is because we see what this team can do.
  • Ryanair publishes list of cancelled flights

    Ryanair publishes list of cancelled flights

    Manchester United fans react angrily after RyanAir cancel flights to Lisbon ahead of their Champions League clash with Benfica . The flights cancelled were between Dublin and four destinations - Amsterdam, Frankfurt, Nantes and Santander.
    Senate Republicans push last-gasp Obamacare repeal amid hurdles

    Senate Republicans push last-gasp Obamacare repeal amid hurdles

    Susan Collins of ME and Lisa Murkowski of Alaska, who stood up against July's repeal effort. "As he has said before, Sen". Senate leadership called on the Congressional Budget Office to rush scoring on legislation - released by Sens.
    Bowlers take Windies to 21-run victory over England - T20I

    Bowlers take Windies to 21-run victory over England - T20I

    England needed 26 off the last over and Brathwaite, fittingly, ended the match when he bowled Liam Plunkett. It's a new experience for a guy like Tom Curran coming in bowling to Chris Gayle and Evin Lewis.
  • Apple is about to release new operating system for iPhones

    Apple is about to release new operating system for iPhones

    These are photo apps that have been abandoned by their developers and have not been updated in years. This means that the oldest Apple devices that can support iOS 11 will be the iPhone 5s and iPad Air.
    Actress Kate Walsh Breaks Silence on Brain Tumor Diagnosis

    Actress Kate Walsh Breaks Silence on Brain Tumor Diagnosis

    Walsh told Cosmopolitan that her acting jobs as a doctor did not make her any less afraid of having surgery. She is speaking out and asking people to see a doctor, no matter how small you think the illness is.

    Emmys saw winners, political jabs and Sean Spicer

    And since he knows the president is most likely watching, he had a special message to Trump: "Hello, thank you for doing us". The bit subtly slammed the Trump administration's claims about the size of the crowd at the inauguration in January.
  • Angela Merkel challenged on abortion by woman with Down's

    Angela Merkel challenged on abortion by woman with Down's

    "We must fight against the leaders of the party, but we must not attack their sympathizers", said the SPD candidate. She is standing for a further term in office and the polls are predicting that she will be re-elected on Sunday.
    Trump Lawyer Overheard Saying He'll Hide Documents From Congressional Russia Investigators

    Trump Lawyer Overheard Saying He'll Hide Documents From Congressional Russia Investigators

    At one point, Cobb brought up an unnamed colleague who "tried to push Jared out" and whom he blamed for "some of these earlier leaks".
    Toys

    Toys "R" Us could be filing for bankruptcy

    Bhandari worked at Toys "R" Us as treasurer and senior vice president from 2014 until early this year, when he joined Lazard. It now has more than 800 stores in the United States and more in other countries all over the world.

Nuclear powers refrain from signing United Nations treaty on banning nukes Nuclear powers refrain from signing United Nations  treaty on banning nukes On the margins of the 72nd United Nations General Assembly (UNGA), the federal government, has signed the Treaty on the Prohibition of Nuclear Weapons.

Snapchat blocks access to Al Jazeera in Saudi Arabia Snapchat blocks access to Al Jazeera in Saudi Arabia Apparently, the channel - which features news reports from the highly-respected publisher - was said to have violated local laws. This being the reason that the U.S. owned companies like Snapchat Inc comply, as local laws are far more restrictive here.

Supreme Court to take a call on Rohingyas: Rajnath Supreme Court to take a call on Rohingyas: Rajnath An estimated 40,000 Rohingyas are present across India including Jammu and Kashmir and Rajasthan states. The Rohingya are one of Myanmar's many ethnic minorities in the Buddhist-majority nation.

Timmons suspended 'indefinitely' by NFL Dolphins Timmons suspended 'indefinitely' by NFL Dolphins The Dolphins brought Timmons in primarily for his run defense, and was set to be the team's key blitzer. However, the Dolphins linebacker was later found at Los Angeles International Airport (LAX).

Supreme court steps in to block Iraq Kurd independence vote Supreme court steps in to block Iraq Kurd independence vote It is not immediately clear if the local government in the semi-autonomous Kurdish region would abide by Monday's court ruling. Turkey's strong economic ties to the Kurdish Regional Government ( KRG ) will weigh on any response from Ankara .

Mattis hints at military options on North Korea, no details Mattis hints at military options on North Korea, no details North Korea on Monday said that additional sanctions will push it to accelerate its nuclear plans, Reuters reported. Kim was also the first ambassador to Spain, with the North Korean Embassy opening in February 2014.

Major 7.1 magnitude natural disaster strikes Mexico city Major 7.1 magnitude natural disaster  strikes Mexico city The AP reported that the governor of Morelos says 42 people have died in his central Mexican state following the quake. Moderate shaking - or intensity 5 shaking - is defined by the USGS as "felt by almost everyone; many awakened".

Irma death toll rises in Florida Irma death toll rises in Florida Scott's rule will expire in 90 days, and he vowed to take action against facilities that don't comply within the 60-day deadline. On Saturday, power was restored to at least three nursing homes and 10 assisted living facilities housing elders in Florida.

Celebrate National Cheeseburger Day with a 'free' cheeseburger from McDonald's Celebrate National Cheeseburger Day with a 'free' cheeseburger from McDonald's The post National Cheeseburger Day 2017: Free Burger Deals at McDonald's, Shake Shack, More appeared first on InvestorPlace . Hwy 55: From 5 p.m. until closing on Monday, Lil' Cheeseburgers at Hwy 55 are just 55 cents apiece (normal price: $3.39).

Ryanair to axe 2000 flights amid crew leave chaos Ryanair to axe 2000 flights amid crew leave chaos You should keep any food, transport or accommodation receipts to use when making a claim for compensation. Ryanair has said as many as 50 flights a day will have to be cancelled over the next six weeks.

All eyes on PV Sindhu as Japan Open Superseries badminton begins All eyes on PV Sindhu as Japan Open Superseries badminton begins The former World No 1 will open against Pornpawee Chochuwong, against whom the Indian has a 2-0 record. Every Indian had watched her give a tough competition at Glasgow and the Seoul win is our win.

Theresa May expects 'seamless' transition to trading with Canada post-Brexit Theresa May expects 'seamless' transition to trading with Canada post-Brexit Mrs May will also welcome the appointment of Brigg & Goole MP Andrew Percy as her trade envoy to Canada. After her meeting with Trudeau, May will travel to NY tomorrow for the UN General Assembly.

The Dallas Cowboys are the World's Most Valuable Sports Franchise The Dallas Cowboys are the World's Most Valuable Sports Franchise Once again, the Cowboys were estimated to be the most valuable National Football League franchise, this time at $4.8 billion. The Falcons enjoyed a league-high 16-percent increase from last season, coming in at No. 15 with a value of $2.475 billion.

Who's moaning about Alexis now? Wenger silences haters to halt Chelsea juggernaut Who's moaning about Alexis now? Wenger silences haters to halt Chelsea juggernaut His dismissal was the third time in five league games this season that a Chelsea player was sent off, as many as in their previous 73 games.

Aid agency warns of Rohingya refugee deaths due to resource shortages Aid agency warns of Rohingya refugee deaths due to resource shortages Myanmar says more than 430 people have been killed, a lot of them militants, and about 30,000 non-Muslim villagers have been displaced.