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The Organization for Economic Cooperation and Development reported a deterioration in the forecast for global GDP growth for 2019 from 3.7% to 3.5%. The main risks for global growth are trade disputes and monetary policy tightening by leading central banks. The growth forecast for the current year has been kept at the level of 3.7%. Compared with last year's rise of 3.6%, economic growth accelerated this year. Also, the OECD has made a growth forecast for 2020. According to its estimates, GDP growth in 2020 will be 3.5%. The report notes that the record low unemployment rate in many countries is causing an insufficient number of skilled workers. It also points to a slowdown in the growth of trade and investment against the background of the introduction of trade duties. In developing countries, there is an outflow of capital and a weakening of national currencies, which is caused by a rise in US interest rates and a stronger dollar.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
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