Weak US 'to hit global growth'
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A slowdown in the US will crimp global economic growth in 2007, a report from the OECD predicts.
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FRANKFURT: Investorsâ appetite for US assets will eventually dwindle and the United States must reduce its budget deficit to prevent major economic damage, Federal Reserve Chairman Alan Greenspan has said, in remarks that hit the dollar hard.
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Business & money: Finance chiefs from the G7 warn the global economy will slow down as a result of US mortgage crisis
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Excessive weakening of the U.S. dollar could lead to interest rate hikes in the United States, Europe and Japan and hurt global economic growth, OECD Secretary General Angel Gurria said on Monday.
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Some fear that American consumers will pull back from their exuberant spending, cooling demand for goods worldwide and dragging down the global economy.
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The U.S. economy grew at a weaker-than-expected 3.1 percent annual pace in the final quarter of 2004 year, its slowest since the beginning of 2003 as the country's trade performance deteriorated and inflation picked up, a government report on Friday showed.
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Continued robust expansion in developing countries will help offset a slowdown in the United States this year amid concerns of a possible recession in the world's largest economy, the World Bank said Wednesday.
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US economic growth should slow over the coming year as consumers cut back on spending, but improved business confidence should help hiring, a wide-ranging survey of forecasters found.
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Finance leaders from the worldâs wealthiest nations warned Saturday that global economic woes could get worse from the slump in the American housing market.
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US economic growth will slow to 3.3 per cent in 2005, more than a full percentage point below this year, with the effect of high energy prices dragging on the economy for the next few quarters, the OECD said on Tuesday.
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AFP/File - A weaker-than-anticipated report on the US labor market, showing just 112,000 jobs added in November, cast fresh doubts over the pace of growth of the world's largest economy.
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The global economy should register its strongest growth in 30 years in 2004 despite soaring oil prices, which are expected to restrain the US expansion a bit, the International Monetary Fund said Wednesday.
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Growth in the US economy this year is likely to be 4.3%, the OECD forecast today, lowering an earlier forecast of 4.7%. But the Japanese economy was set to grow by 4.4% instead of 3% forecast earlier and the euro zone by 2% instead of 1.6%.
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Sluggish growth in the eurozone is holding back the global economy, according to the US Treasury Secretary John Snow. Speaking during a visit to Dublin, he said the zone was growing at &quot;below its potential
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The U.S. is heading into its first recession in a truly globalized world. What to expect  -  and why it will be different this time
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US Federal Reserve chief Alan Greenspan has warned that the deficit in US trade with the rest of the world cannot be sustained indefinitely.
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US economic growth was stronger than previously thought in the third quarter because imports were less hefty than originally estimated, the government said on Wednesday, but corporate profits weakened.