Canada expected to lead G7 in economic growth, says OECD

Francis Osborne
Сентября 22, 2017

The OECD now expects global economic growth of 3.5% in 2017, rising to 3.7% in 2018.

As inflation takes a toll on consumer spending and Brexit uncertainty dents business confidence, the United Kingdom will drop from the second fastest growing G7 economy in 2016 to the second slowest this year and the slowest in 2018, the think tank for wealthy nations predicts.

It has left its forecasts for British growth across the two years unchanged since June at 1.6 per cent in 2017 and 1 per cent in 2018, but has upgraded Europe and the world...

The OECD maintained its Canadian outlook for 2018 at 2.3 per cent.

And for next year it is forecasting growth of 1.9 percent for the eurozone, 0.1 percentage point more than previously estimated but below the 2.4 percent projection for the U.S.

"The recovery of business investment and trade remains weaker than needed to sustain healthy productive growth", the OECD said, noting that wage growth had also been disappointing.

Читайте также: Bankruptcy Approaching For Toys 'R' Us

"The short-term outlook is more broad-based and the upturn is promising, but there is no room for complacency", OECD Chief Economist Catherine Mann said.

That said, the extent to which fiscal easing and regulatory reform may provide an additional boost in 2018 remains uncertain, the report added.

The economist also stressed that structural efforts must be intensified to bolster the nascent investment recovery, to address slow productivity growth and to ensure the recovery yields benefits for all.

Growth this year is "higher than in 2016 but still below historical norms" said the OECD, which advises industrial nations on economic policy.

For emerging countries, the OECD raised by 0.2 percentage point its forecast for China's economy to expand this year, to 6.8 percent. Growth was supported by stronger consumer spending and business investment and job creation has remained strong.

"Strong import demand from China in the early part of 2017 has been a key driver of the higher than anticipated growth in the region", it said. That's 0.3 percentage point more than its previous prediction in June and means the region will match the expected growth rate of the USA, which was left unchanged.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2017 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Other reports by

Discuss This Article