OECD Raises Italian 2017 GDP Forecast to 1%

The Italian economy will grow by a modest 1.0 percent this year, the Organisation for Economic Cooperation and Development said on Wednesday, marginally raising its previous forecast of 0.9 percent made in November.

The latest OECD projection for the euro zone’s third largest but most sluggish economy is in line with those of Italy’s government, the European Commission and the Bank of Italy.

All these bodies forecast Italian growth of 0.9 percent or 1.0 percent, roughly the same rate as it posted in 2016 and below the expected growth of all its peers in the 19 nation currency bloc.

Reuters

USD/JPY – Yen Drops to 2-Week Lows on Upbeat Yellen Comments

Yellen Testimony Headlines Lively US Session

MS

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.