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March 13, 2017

Global Economic Analysis and News of Note: Global Growth To Pick Up In 2017, 2018

·      The Organization for Economic Cooperation and Development (OECD) issued its updated growth forecasts last week. The global economy is expected to expand 3.3 percent in 2017 and 3.5 percent in 2018, up from three percent growth in 2016. The OECD predicted the Chinese economy will grow by 6.5 percent in 2017 and 6.3 percent in 2018, an improvement over last year, and that the U.S. economy will expand 2.4 percent this year and 2.8 percent next year, up from 1.6 percent in 2016. The organization also predicted growth in Canada would pick up this year and next. The OECD warned, however, that an, “An increase in trade barriers in the major global trading economies — Europe, the United States and China … would have a major adverse impact on trade and GDP, particularly for those economies that imposed new trade barriers.”