OECD Forecasts 3.5% Global Growth

The OECD has predicted the global economy is set to grow 3.5% this year, its best performance since 2011, with growth nudging up to 3.6% in 2018.

It is a slight improvement on the think tank’s 3.3% estimate, which it predicted in March.

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

It said UK growth forecasts of 1.6% in 2017 and 1% in 2018 remained unchanged from its March prediction.

“Everything is relative. What I would not like us to do is celebrate the fact we’re moving from very bad to mediocre.
“It doesn’t mean that we have to get used to it or live with it. We have to continue to strive to do better.”

He warned that the improved outlook could be damaged by protectionism and it was not strong enough to satisfy people’s expectations for a better standard of living or greater equality.

Growth continues to fall short of rates seen before the 2008-09 financial crisis.

via BBC

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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