OECD GDP 2013 forecasts

Author: Pete Jackson | Category: News

Author: Pete Jackson

  • Lowers World GDP to 3.4% from 4.2% in May
  • Cuts US   to 2.0% from 2.6%
  • Trims OECD area to 1.4% from 2.2%
  • Cuts Eurozone to -0.1% from +0.9%
  • Cuts Germany to 0.6% from 2.0%
  • Cuts France to 0.3% from 1.3%
  • Cuts China to 8.5% from 9.3%
  • Cuts Japan to 0.7% from 1.5%

OECD sees Eurozone crisis still the biggest threat to world economic outlook, and calls on ECB to cuts rates by 0.25%.

BOJ should increase  QE until inflation firms to +1%,  Japan’s economy’s strong enough to implement a sales tax hike in 2013. Spending cuts, revenue increases are vital to sustain confidence in Japan’s public finances

(Reuters)