OECD Interim Assessment of Major Economies

The OECD raised its global growth forecast for next year to 3.7% versus 3.6% previously and kept 2017 global growth at 3.5%, according to the Interim Economic Outlook released today in Paris.

  • Raised euro area forecasts for 2017 and 2018 to 2.1% and 1.9% from 1.8% in both years, respectively
    • Also raised Germany, France, Italy forecasts
  • Raised Japan forecasts for 2017 and 2018 to 1.6% and 1.2% from 1.4% and 1%, respectively, in the June report
  • “Strong and sustained medium-term global growth is not yet secured. The recovery of business investment and trade remains weaker than needed to sustain healthy productivity growth. Wage growth has been disappointing, keeping inflation at low levels. Strong future growth in emerging market economies will depend on deeper reform.”
201820172016
World3.7%3.5%3.1%
United States2.4%2.1%1.5%
Euro area1.9%2.1%1.8%
 Germany2.1%2.2%1.9%
 France1.6%1.7%1.1%
 Italy1.2%1.4%1.0%
Japan1.2%1.6%1.0%
Canada2.3%3.2%1.5%
United Kingdom1.0%1.6%1.8%
China6.6%6.8%6.7%
India7.2%6.7%7.1%
Brazil1.6%0.6%-3.6%
Russia2.1%2.0%-0.2%
G-203.8%3.7%3.2%

NOTE: GDP annual growth at market prices adjusted for working days.

NOTE: Data for India refer to fiscal years starting in April.

SOURCE: OECD

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