Tag: Organisation for Economic Cooperation and Development

Fed: US economy remains sluggish

Fed: US economy remains sluggish

The latest Beige Book report, published by the Federal Reserve today, has revealed widespread signs that US economic growth continues to slow. The Fed said: “Economic activity continued to expand at a modest pace, though some districts noted mixed or weakening activity.” The economic recovery of the US remains sluggish in the face of higher [...]

September 8, 2011 | 0 Comments More
OECD lowers growth prospects for major economies

OECD lowers growth prospects for major economies

The Paris-based Organisation for Economic Cooperation and Development (OECD) has revised its growth forecasts for major economies. The US, which is the world’s largest economy, is expected to see growth in the third quarter of 1.1% and 0.4% in the fourth – this is far lower than the previous estimates of 2.9% and 3%. However, [...]

Policymaker against lifting interest rates

Policymaker against lifting interest rates

Bank of England policymaker Adam Posen today said the central bank is right not to have raised interest rates, despite stubbornly high inflation. For several months, three of Monetary Policy Committee (MPC) members have voted for interest rates to be lifted after inflation reached a 2½- year high last month of 4.5% – more than [...]

May 27, 2011 | 0 Comments More
OECD: Bank of England should lift interest rates

OECD: Bank of England should lift interest rates

The Paris-based Organisation for Economic Cooperation and Development (OECD) has today said the Bank of England should lift interest rates to combat stubbornly high inflation. UK economic growth is being hampered by soaring inflation, which is having a major impact on consumer spending. As a result, the Organisation revised its growth forecasts for the UK, [...]

May 25, 2011 | 0 Comments More
OECD revises growth prospects for global economy

OECD revises growth prospects for global economy

The Paris-based Organisation for Economic Cooperation and Development (OECD) has revised its growth forecasts for the global economy. The US, which is the world’s largest economy, is expected to see growth this year of 2.6% - revised upwards from a previous estimate of 2.2%. It maintained its 2012 growth forecast at 3.1%. “Growth in the [...]

OECD confident for euro zone’s future

OECD confident for euro zone’s future

As more doom and gloom surrounds the euro zone economy, the Organisation for Economic Cooperation and Development (OECD) has today issued a positive statement and suggested that “the euro as a currency has a long life, it is alive, well and kicking”. Fears have been raised that the 16-nation euro currency will fail in the [...]

November 25, 2010 | 0 Comments More
OECD: UK recovery to be ‘weak and fragile’

OECD: UK recovery to be ‘weak and fragile’

The Organisation for Economic Cooperation and Development (OECD) is forecasting that the UK’s recession will end in this year but said recovery is likely to be “weak and fragile” for some time. The OECD is forecasting that output will decline by 4.3% this year, revised upwards from its March forecast of a 3.7% fall. The [...]

June 24, 2009 | 0 Comments More
UK unemployment reaches 2.2m

UK unemployment reaches 2.2m

Figures released by the Office for National Statistics (ONS) have revealed that the number of people out of work in the UK has reached 2.2 million. This takes the unemployment rate up to 7.1% from 6.7% - the highest rate since 1991. In the meantime, unemployment benefit claimants in April climbed by a further 57,000 [...]

May 12, 2009 | 0 Comments More
Green shoots of recovery leads OECD to believe worst of recession over

Green shoots of recovery leads OECD to believe worst of recession over

According to the Organisation for Economic Cooperation and Development (OECD), the worst of the recession may be over for Britain. The OECD has gathered its evidence by measuring a range of statistics, including trends in stock markets and business surveys. The influential think tank said while output is still shrinking, there have been some green [...]

OECD: UK recession likely this year

OECD: UK recession likely this year

According to the Organisation for Economic Cooperation and Development (OECD), it is likely that the British economy will fall into recession during the second half of this year. It is expected that Britain will be the worst performer out of the world’s wealthiest nations with the economy expected to shrink by 0.3% in the third [...]

September 2, 2008 | 0 Comments More
Growth to slow in 7 largest economies

Growth to slow in 7 largest economies

According to the Organisation for Economic Cooperation and Development (OECD), growth in the seven largest economies are set to slow further. The Paris-based organisation said its research for June points towards a continued weakening outlook for all the major seven economies. The warning comes as the fallout from the credit crisis has affected economies worldwide, [...]

August 10, 2008 | 0 Comments More