World economy seen picking up, political uncertainty a risk

08 June, 2017, 01:50 | Author: Archie Newman
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Global growth is set to improve this year with the world economy likely to expand at the fastest pace in six year and the momentum is expected to continue, but more efforts are needed to ensure that its benefits and globalisation are more widely shared, the Organisation for Economics Co-operation and Development said on Wednesday.

In its economic outlook, the OECD said: "Private consumption growth is projected to slow, as higher inflation holds back real earnings, but a weaker growth outlook should mitigate the extent of price pressures in the economy".

The OECD has raised its 2017 GDP projection for Poland to 3.6 percent from 3.2 percent in a November forecast.

The Paris-based research body also cut its economic growth forecasts for the US this year and next, saying stimulative measures it had expected from the Trump administration would now likely be implemented later than it had previously anticipated.

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However, Ms Mann warned that the "modest" upturn was not yet enough to raise living standards or "reduce persistent inequalities" as she warned that the global economy remained vulnerable to shocks.

The upgrade came after the World Bank also edged up Turkey's growth rate to 3.5 percent from three percent for 2017. "Turkey will probably grow almost 4.5 percent this year", Simsek said.

It said the modest growth is supported by an upturn in exports, which have been on a roll since November past year on the back of brisk overseas sales of semiconductors.

The organization report showed a steady outlook for the euro area at 1.8 percent over the period while that of Japan would increase to 1.4 percent this year before slowing to 1.0 percent in 2018. We've started pushing for strong investment, exports, and employment. There is uncertainty over government policies in major countries and wages are not yet growing as much as hoped. It is not investment advice or a solution to buy or sell securities. You could lose all of your deposited funds. He has a deep understanding of market fundamentals and the impact of global events on capital markets.

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