OECD sees global growth accelerating but unsecure

AFP, PARIS:  The world economy should see growth accelerate next year, the OECD said Tuesday as it released updated forecasts, but warned that conditions for a sustainable expansion are not yet in place.

With the United States, China and the eurozone all expected to continue economic growth next year, the global economy should expand by 3.7 per cent next year after growing by 3.6 per cent this year, the Organisation for Economic Cooperation and Development said.

“The global economy is now growing at its fastest pace since 2010, with the upturn becoming increasingly synchronised across countries,” said the OECD, but noted that the rebound is “modest” compared with past recoveries.

“Moreover, the prospects for continuing the global growth up-tick through 2019 and securing the foundations for higher potential output and more resilient and inclusive growth do not yet appear to be in place,” it warned.

“Strong and sustained medium-term growth is not yet secured.”

 

OECD sees global growth accelerating but unsecure

AFP, PARIS: The world economy should see growth accelerate next year, the OECD said Tuesday as it released updated forecasts, but warned that conditions for a sustainable expansion are not yet in place. With the United States, China and the eurozone all expected to continue economic growth next year, the global economy should expand by 3.7 per cent next year after growing by 3.6 per cent this year, the Organisation for Economic Cooperation and Development said. The global economy is now growing at its fastest pace since 2010, with the upturn becoming increasingly synchronised across countries, said the OECD, but noted that the rebound is modest compared with past recoveries. Moreover, the prospects for continuing the global growth up-tick through 2019 and securing the foundations for higher potential output and more resilient and inclusive growth do not yet appear to be in place, it warned. Strong and sustained medium-term growth is not yet secured.