OECD expects robust 3.6 percent growth
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Higher oil prices have slowed economic growth in the Organization for Economic Cooperation and Development, but it should expand by 3.6 percent this year.
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The U.S. economy grew at a healthy 3.7 percent annual rate in the third quarter this year, bolstered by strong consumer spending and accompanied by the lowest inflation in decades, the Commerce Department said on Friday.
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The Organization for Economic Cooperation and Development (OECD) on Tuesday cut its 2004 forecast for US economic growth to 4.3 percent but raised its growth predictions for the euro zone and for Japan.
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The US economy grew at a 3.7 percent annual rate in the third quarter - a pace that was slightly better than in the spring but not as strong as many analysts expected.
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The US economy&#39;s &quot;soft patch&quot; was not as weak as initial estimates, according to government data showing a 3.3 percent pace of expansion in the second quarter.
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SCHEVENINGEN - The French public deficit is expected to come to 3.6% of output this year and around 3% or slightly less in 2005, Finance Minister Nicholas Sarkozy predicted.
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Commerce said the value of imports, which subtracts from GDP, grew at a 4.6 percent rate in the third quarter instead of 6.0 percent it estimated a month earlier.
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In a buoyant annual report, President Bushâs Council of Economic Advisers said the economy was poised to keep growing at a solid 3 percent a year.
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The economy -- helped out by more brisk consumer and business spending -- grew at an annual rate of 3.9 percent in the third quarter, a performance that was stronger than previously thought.
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The US economy raced ahead at a 5.6 percent pace in the first quarter, the government has said, revising upward its last estimate of a 5.3 percent growth rate.
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U.S. chief executive officers expect the economy to grow over the next six months, according to a quarterly survey by the Business Roundtable released on Wednesday.
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NEW YORK -- The United Nations Conference on Trade and Development (UNCTAD) announced Thursday (local time) that the Korean economy is expected to grow by 6.5 percent while the world economy by 3.8 percent.
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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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International Monetary Fund said on Wednesday, September 29, that it raised its outlook for Russiaâs economy, forecasting 6.6 percent GDP growth in 2005.
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U.S. chief executives expect the economy to grow over the next six months, according to a quarterly survey by the Business Roundtable released on Wednesday.
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WASHINGTON : The US economy&#39;s &quot;soft patch&quot; was not as weak as initial estimates, according to government data Wednesday showing a 3.3 percent pace of expansion in the second quarter.
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Economic growth clocked in at a 2.6 percent pace in the spring, even slower than previously thought.