OECD Says UK Growth to Strengthen in 2013

Britain’s recovery will continue to strengthen for the rest of the year, according to the Organisation for Economic Co-operation and Development (OECD), the Paris-based thinktank.

The rosy outlook for the UK is matched by forecasts for the eurozone and the US, which have also seen their recoveries gather momentum.

The OECD said the UK’s growth was “firming” after a rise in its composite index from 100.6 in February to 100.8 in June – where a reading of 100 indicates trend growth.

After an 18-month recession, the eurozone is also turning its fortunes around, led by Italy, which stood at 99.5 in February before recovering to 100.7 in June.

Better than expected figures from Italy contrast with the emerging Bric economies of Brazil, Russia, India and China. A review of all sectors in these countries found growth losing momentum, said the OECD.

Trade figures from China on Thursday appeared to show that exports and imports both increased in July, beating expectations, though scepticism over the veracity of the figures dampened hopes that a sustained recovery was imminent.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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