OECD Cuts US Economic Growth Forecast
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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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PARIS  - China, Japan and North America will pull the global economy forward over the next two years despite headwinds thrown up by high oil prices and tenacious deficits, the OECD predicted.
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The US home loan crisis will cause just a modest slowdown of the American economy and have a limited impact on the rest of the world, the International Monetary Fund&#39;s chief economist said Wednesday.
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The International Monetary Fund has trimmed its forecasts for world economic growth but expects the UK and the US will expand strongly this year, leaked
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PARIS The Organization for Economic Cooperation and Development on Tuesday lowered its forecast for global economic growth next year, saying that the rise in oil prices was dampening global trade and consumer confidence.
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The Motley Fool - We're heading into a recession. You've heard about it for months, even years, what with the housing bubble, the war in Iraq, overextended consumer credit -- you name it. A recent Merrill Lynch (NYSE: MER - News) report says that the U.S. economy will grow by only 1.9% next year, down from 3.4% this year, and slower than the global growth rate of 5.2%. Even slowpoke Europe should pass us at 2.1%, though the U.S. is ahead of the average European GDP growth rate of 2.7%.
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The White House on Tuesday lowered its forecast for economic growth this year and into 2008, reflecting the drag from the housing slump.
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The recent financial markets chaos which plagued banking group Northern Rock could put the brakes on Britain&#39;s economic growth, the OECD warned Thursday.
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A report released in Brussels on Friday showed a slowdown of economic growth in the 12-nation eurozone due to record high oil prices and the euro&#39;s sharp rise against the US dollar.
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The White House cuts its forecasts for US growth over the coming year as a result of a housing market slump.
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LONDON, November 30  - The Organization for Economic Co-operation and Development (OECD) has reduced its global economic growth forecast for 2005 to reflect the negative impact of the high oil prices on global trade and consumer
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A leading business group cut its 2005 forecast for British economic growth Thursday, blaming a combination of high oil and commodity prices, slowing global growth and domestic interest rate rises.
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The White House on Tuesday lowered its forecast for U.S. economic growth for this year and next, saying that the economy is moderating.
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Germany, the world's third-biggest economy, can no longer rely on exports to fuel domestic spending, prompting economists to cut their growth forecasts for next year to as low as 1 per cent.
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Mr Kok's report, seen by the Financial Times, warns that Europe has fallen further behind the US since launching its ambitious target to raise Europe's growth potential at Lisbon in 2000.
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NEW YORK, October 21  - The US leading economic indicators declined for the fourth consecutive month in September this year indicating sluggish economic growth going into 2005.
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US economists have trimmed their forecasts for hiring and economic growth in view of steep energy prices and other factors, a Wall Street Journal survey showed.