High oil prices put brake on growth, OECD reports
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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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ALBUQUERQUE, N.M.  - High oil prices will probably  brake U.S. growth but will not derail the economy provided  there is not another sharp spike upward, a top Federal Reserve  policymaker said on Tuesday.
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&quot;The sharp rise in oil prices has contributed to the weakening of the expansion in recent months, and will likely continue to do so for several quarters,&quot; the IMF report said.
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US economic growth slowed more sharply in the second quarter than first thought as oil prices rose and the trade gap swelled, the government said on Friday in a report
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U.S. economic growth slowed more  sharply in the second quarter than first thought as oil prices  rose and the trade gap swelled, the government said on Friday  in a report that confirmed momentum faltered in the spring.
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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 research institute warned Thursday.
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The European Union's head office issued a bleak economic report Tuesday, warning that the sharp rise in oil prices will "take its toll" on economic growth next year while the euro's renewed climb could threaten crucial exports.
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Europe's fragile recovery is being held back by the surge in world oil prices, which is limiting growth and threatening to stop key eurozone economies from restoring order to their public finances, analysts say.
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High crude oil prices have  had some impact on U.S. economic growth but the pain is not on  the level seen during the energy price shocks of the 1970s,  U.S. Energy Secretary Sam Bodman said on Wednesday.
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Global oil prices are set to cool although not rapidly and not to levels seen in the 1990s, the Organisation for Economic Cooperation and Development (OECD) says.
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RECORD oil prices are likely to depress growth in the 12-nation eurozone next year, the European Commission warned yesterday as crude stayed close to the all-time highs it hit on Monday.
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THE growth of the world economy is poised to slow sharply next year as oil pressures continue and China attempts a âsoft landingâ, the World Bank said yesterday.
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Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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If China wants to slow the rate of economic growth and oil demand slows because of that, &quot;then the oil prices at these levels are too high,&quot; he said.
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The International Monetary Fund warned Tuesday that the risks of a global slowdown have increased due to higher interest rates, surging oil prices and an apparent cooling in the U.S. housing market that could slow the U.S. economy.
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HIGH oil prices will slash the countryâs economic growth by as much as 1 percent next year, the World Bank said Tuesday. In its latest East Asia Regional Economic Update
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Economic growth in the 12 nations sharing the euro probably slowed in the third quarter as record oil prices crimped global demand and rising unemployment weighed on consumer spending, a survey of economists ...