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Financial News: OECD Sees Further Uptick In Global Growth In

OECD Sees Further Uptick In Global Growth In 2018

09/20/2017 - 06:02:00 (RTTNews)

(RTTNews) - The global economy is set for a further uptick next year, but strong sustainable, and inclusive medium-term growth is not yet secured, the Organisation for Economic Co-operation and Development said in its Interim Economic Outlook, released Wednesday.

The global economy is forecast to grow 3.5 percent this year and 3.7 percent in 2018, with industrial production and trade picking up and further acceleration in the rebound of technology spending.

The projection for 2017 was left unchanged, while the outlook for 2018 was revised up from 3.6 percent.

In the United States, growth is estimated at 2.1 percent in 2017 and 2.4 percent in 2018, supported by stronger consumer spending and business investment.

Citing stronger growth in key European countries, euro area is projected to grow 2.1 percent in 2017 and 1.9 percent in 2018.

In the United Kingdom, the previously identified growth slowdown is expected to continue through 2018, while uncertainty remains over the outcome of negotiations around the decision to leave the European Union, the OECD said.

The UK is projected to grow 1.6 percent in 2017 and 1 percent in 2018.

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