Salient to Investors:
The OECD said:
- Germany will expand 0.7 percent in 2013 versus 0.4 percent predicted in May
- France will grow 0.3 percent in 2013 versus shrinking previously predicted of 0.3 percent
- The UK will grow 1.5 percent in 2013 versus 0.8 percent predicted in May.
- In the euro area, re-balancing remains incomplete with weak domestic demand in high debt countries having been offset by stronger exports only to a limited extent. Supportive monetary policy must be continued, with further monetary easing should the recovery were to fail to take hold.
- Italy will shrink 1.8 percent in 2013.
- The US will expand 1.7 percent in 2013, down from 1.9 percent predicted in May
- China will grow 7.4 percent in 2013, down from 7.8 percent previously predicted. China has seemingly passed the trough and looks set to recover further in half2 2013
- In a number of other emerging economies, recent financial market tensions and weak momentum suggest both a reappraisal of trend growth and deterioration in cyclical conditions.
Read the full article at http://www.bloomberg.com/news/2013-09-03/oecd-lifts-european-growth-forecasts-on-recovery.html
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