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25th of September 2010
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News Tag: Organisation for Economic Co-operation and Development

September 21, 2010

US housing starts jump, building permits up

by Kay Murchie
US housing starts jump, building permits up
There was some good news from the US housing market today after the Commerce Department revealed housing starts jumped in August to a four-month high. According to the Commerce Department, construction of new US homes rose 10.5% last month to a seasonally adjusted annual rate of 598,000 units - beating analysts expectations of 550,000. In the meantime, applications for building permits, a ...



September 9, 2010

Double-dip recession unlikely, says OECD

by Kay Murchie
”Double-dip
Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has today said the global economic recovery is slowing faster and has therefore revised its growth forecast downwards for the G7 leading economies. However, the think tank has said a return to recession is unlikely but "great uncertainty" remains. It has therefore slightly revised its growth forecast for 2010 for the G7 nations ...



July 7, 2010

Think tank concerned for unemployment in rich economies

by Kay Murchie
”Think
Economic think tank, the Organisation for Economic Co-operation and Development (OECD), has today said unemployment remains a concern in rich economies. In particular, the OECD has expressed concern for the UK economy, after the Government axed investment for job programmes. It believes the unemployment rate will hover around the 8% mark for at least the next 18 months. While the OECD ...



May 26, 2010

OECD raises global growth forecasts

by Kay Murchie
”OECD
Influential think-tank, the Organisation for Economic Co-operation and Development (OECD), has raised its worldwide growth forecasts in its twice-yearly report. The Paris-based Organisation said the global economy is recovering faster than expected with Asia continuing to drive the expansion. However, debt crises in many countries may threaten expansion in the developed world, the OECD warned. Furthermore, there is a risk of overheating in the Chinese ...



April 9, 2010

NIESR: UK to see positive growth in Q1

by Kay Murchie
”NIESR:
Influential think tank, the National Institute of Economic and Social Research (NIESR), said the UK economy avoided a double-dip recession in the first quarter of 2010 and is expected to see growth of 0.4%. However, official figures for quarter one GDP will not be published until April 23 but it appears many are optimistic for growth in the first three ...



April 8, 2010

BoE keeps interest rates and QE on hold

by Kay Murchie
”BoE
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 13th consecutive month. In addition, it has opted not to inject any more funds into the economy via its quantitative easing (QE) scheme - introduced to stimulate growth within the economy. In February, ...



BoE expected to keep interest rates and QE on hold

by Kay Murchie
”BoE
The Bank of England’s Monetary Policy Committee (MPC) is today expected to keep UK interest rates on hold at the historically low level of 0.5% for the 13th consecutive month. In addition, the Bank is expected not to inject any more money into the economy through its quantitative easing (QE) scheme. In February, the Bank announced it was pausing ...



April 7, 2010

UK economy to surge ahead in Q2

by Kay Murchie
”UK
The Organisation for Economic Co-operation and Development (OECD) has today said the UK economy will outperform its G7 rivals in the second quarter of 2010. The forecast comes despite the UK economy lagging behind other major economies and being one of the last to emerge from recession - in the fourth quarter of 2009. However, the OECD is forecasting the economy will ...



March 23, 2010

OECD warns Governments about spiralling debt

by Kay Murchie
”OECD
The Organisation for Economic Co-operation and Development (OECD) today warned Governments in its member countries to take action to trim their budget deficits. The OECD, which includes 30 territories such as the US, Australia, Japan, Canada, New Zealand and European countries, is forecasting that debt would exceed 100% of GDP in 2011 across its member countries. Its warning comes prior to the European ...



November 23, 2009

All OECD economies see growth in Q3

by Kay Murchie
”All
The economies of the 30 members of the Organisation for Economic Co-operation and Development (OECD) posted growth of 0.8% in third quarter - the first time economic output among the OECD economies grew since the January to March period last year. OECD members account for 61.3% of global Gross Domestic Product (GDP). The Organisation has now upwardly revised its growth forecast ...



November 19, 2009

OECD: Recovery and growth in 2010 in all world economies

by Kay Murchie
”OECD:
Following the worst recession for decades across the world’s major economies, the Organisation for Economic Co-operation and Development (OECD) is expecting growth and recovery in 2010. In its annual Economic Outlook, the Organisation upgraded its growth forecasts for next year, with world economic output contracting by 1.7% this year and rising by 3.4% in 2010. However, the ...



November 6, 2009

OECD: Recovery clearly visible in major economies

by Kay Murchie
OECD: Recovery clearly visible in major economies
The Organisation for Economic Co-operation and Development (OECD) has provided a positive outlook for major economies saying "a recovery is clearly visible in the US, Japan and all other OECD economies and major non-OECD economies." The report will give a boost to the UK which did not emerge from recession in the third quarter as expected. According to the OECD, its ...



October 12, 2009

Unemployment rate in OECD countries reaches 8.6%

by Kay Murchie
”Unemployment
The Organisation for Economic Co-operation and Development (OECD) has today revealed that the unemployment rate in its member countries has crept up from 8.5% in July to 8.6% in August, up from 6.3% in August 2008. The OECD, which includes 30 territories such as the US, Australia, Japan, Canada, New Zealand and European countries, is forecasting that the jobless rate could ...



September 16, 2009

Global recession could result in 25m job losses

by Kay Murchie
”Global
The Organisation for Economic Co-operation and Development (OECD) warned today that in spite of signs of recovery in major economies, the global recession could mean 25 million people will lose their jobs. The news comes after the Office for National Statistics (ONS) today revealed that unemployment in the UK grew by 210,000 to 2.47 million in the three months to ...



September 3, 2009

Fed minutes reveal upbeat outlook for US economy

by Kay Murchie
Fed minutes reveal upbeat outlook for US economy
Minutes from the latest Federal Reserve meeting have revealed that policymakers are optimistic that the US downturn is coming to an end. However, the minutes did say that the economy is “likely to recover only slowly during the second half of this year and all saw it as still vulnerable to adverse shocks." Furthermore, policymakers expressed their uncertainty as to how ...



OECD sees global recovery earlier than forecast

by Kay Murchie
”OECD
The Organisation for Economic Co-operation and Development (OECD) said the global recession is ending faster than originally thought and expects the US and the euro zone to exit recession in the third quarter. However, the news was not so positive for the UK with the organisation predicting that the economy will contract by 4.7% this year, revised upwards from its earlier ...



June 29, 2009

OECD calls on Government to control UK‘s soaring debt and restore lending

by Kay Murchie
”OECD
The Organisation for Economic Co-Operation and Development (OECD) is calling on the UK Government to take control of the UK’s spiralling debt. The OECD also said that restoring the flow of lending to the economy is an urgent priority - even if it meant nationalising more banks. The warning from the organisation comes as the Bank of ...



June 25, 2009

OECD urges governments to stand firm on pensions reform

by David Masters
OECD urges governments to stand firm on pensions reform
Governments worldwide must continue to take action on pensions or risk a decades-long global pensions crisis, the Organisation for Economic Co-operation and Development (OECD) warned this week. The OECD said new economic concerns created by the credit crunch must not deter governments from pursuing pensions reforms. Dealing with short-term challenges by postponing reforms would prove disastrous in the long-term, the ...



June 8, 2009

OECD reveals optimism for global recession

by Kay Murchie
”OECD
According to the Organisation for Economic Co-operation and Development (OECD), the economic outlook for the world's major economies is looking brighter after indications revealed the downturn may have finally bottomed out. The composite leading indicators (CLI) index for the 30 countries in the OECD gained 0.5 points in April to 93.2, up from 92.7 in March. However, the OECD noted that April’s ...



April 1, 2009

OECD says Britain in worst decline since 1945

by Peter Charalambous
”OECD
According to the Organisation for Economic Co-operation and Development (OECD), Britain is heading for the worst economic downturn since the end of the Second World War, and the organisation has drastically cut forecasts as the signs for recovery are poor. The OECD forecasts are that UK GDP would fall by 3.7 percent by the end of 2009, which is more ...



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