OECD Sees Better Outlook, if Trade Escalation Avoided
OECD Sees Better Outlook, if Trade Escalation Avoided
13 March, 2018, 14:54
Growth will particularly be powered by private investment and trade picking up on the back of strong business and household confidence, the OECD said.
However, the report also warned that "an escalation of trade tensions is a serious risk" following Trump's decision to introduce tariffs on steel and aluminium imports.
The OECD predicts the fastest world growth since 2011 this year, helped by U.S. tax cuts and spending in Germany.
Updating its outlook for the G20, the OECD, which groups 34 of the world's leading economies, raised its global growth forecast for 2018 and 2019 to 3.9 percent - the highest since 2011 - from a previous estimate of 3.6 percent for both years.
However, it said the global economy was vulnerable to an eruption of trade tensions after the Trump administration imposed import tariffs on steel and aluminum, a move that is expected to prompt retaliation from Europe and others.
The latest round of protectionism was triggered by US steep tariffs on imported steel and aluminum.
Britain was seen missing out on the global upturn, lagging all other G20 countries with growth of only 1.3 percent this year.
The body's Interim Economic Outlook - released as Chancellor Philip Hammond was preparing to paint a hopeful picture of Britain's prospects in his spring statement - nudges predicted United Kingdom growth for 2018 up by a tenth of a percentage point to 1.3%.
For South Africa, the OECD has revised the expected GDP growth rate upward to 1.9% in 2018, and 2.1% in 2019 - higher than the growth rate now targeted by National Treasury.
Last week, Stats SA reported higher than expected GDP growth for South Africa in 2017, showing that the economy grew by 1.3%, exceeding National Treasury's expectation of 1.0%. The OECD, which groups 35 developed economies, called on the world's major nations to avoid a dispute that could impede trade, demand, competition and, ultimately, the health of the global economy.
"Safeguarding the rules-based worldwide trading system will help to support growth and jobs", it said.
Mourinho's men drew the first leg 0-0 in Spain and, barring another 0-0 draw, must win at Old Trafford to progress. However, the deal fell through due to issues related to paperwork ahead on the transfer deadline day.
The company has also hired a local team to build partnerships and support driver-partners, it said in a prepared statement. Since its launch in Perth, the service has received a strong response from driver-partners with over 7000 registrations.
The phone is also expected to sport dual-camera setup arranged vertically along with a fingerprint sensor on the back. There are two variants of the phone- one that runs on Snapdragon 425 and the other runs on Snapdragon 430.
He lost to Chung Hyeon in the Australian Open fourth round in January before undergoing the surgery. "Nerves were there. I made so many unforced errors". "Very weird", Djokovic said. "To me, it's not that surprising", Federer said.
However, the midfielder stressed that an opportunity to join the Portuguese tactician's coaching staff is "likely" an option. Their latest victory has helped them sit second in the table with 65 points, four points ahead of third place Tottenham.
USC has won six of eight heading into Tuesday night's game against UNC Asheville in its first NIT appearance since 1999. Since Davidson wouldn't have earned an at-large bid - but the Rams did - the at-large field shrunk by one bid.
Brazil take on Russian Federation and Germany in the next few weeks in a crucially important worldwide break. This month's friendlies are to be the last tune-up games before the competition begins in June.
They said that while Afghan forces are getting better, the Taliban is likely to threaten Afghan stability in 2018. He will also meet United States commanders and allied troops posted in the country, TOLO news reported.
Former Watford boss Marco Silva instantly emerged as the frontrunner to succeed the Argentine on Monday night. According to both Sky Bet and Oddschecker Mark Hughes is the favourite to be the next Southampton manager.
If the United Kingdom stays in a form of customs union that would reduce the costs for both sides by about half, the report said. The UK has only a year to go before it is due to leave the European Union and end more than 40 years of ties with bloc.
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The hosts continued to create the better chances early in the second half, but Milan Skriniar's header bounced off the post. Andre Silva struck in the fourth minute of second-half stoppage time to seal a 1-0 win over AC Milan on Sunday evening.
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He was a good friend of mine", Toney said. "He was prepared for whatever comes, to go home to the Lord", Toney added. It was only just recently that the much beloved Rick Ross [VIDEO ] was reportedly in the hospital on life support.
Sunday, March 11 Overnight Forecast
TUESDAY NIGHT: Mostly cloudy skies and frigid temperatures develop, with an overnight low temperature of 23 degrees. Higher elevations once again have the opportunity to see more clouds and flurries as a disturbance moves through.
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