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OECD Calls for Comprehensive Action to Lift Global Growth

Posted November 06, 2014

Under Economic Issues, International Trade Issues

(RTT News)

The Organization for Economic Co-operation and Development said that comprehensive action is needed to shift the global economy into a higher gear.

In its latest Economic Outlook released Thursday, the Paris-based OECD said global growth is expected to accelerate gradually if countries implement growth supportive policies. Global GDP growth is projected to reach a 3.3% rate in 2014 before accelerating to 3.7% in 2015 and 3.9% in 2016, according to the report.

The United States is expected to expand 2.2% this year and around 3% in 2015 and 2016. Growth in the euro area is expected to pick up slowly, from 0.8% in 2014 to 1.1% in 2015 and 1.7% in 2016. Read more here.