OECD tips US growth slowdown in 2005
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US economic growth will slow to 3.3 per cent in 2005, more than a full percentage point below this year, with the effect of high energy prices dragging on the economy for the next few quarters, the OECD said on Tuesday.
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A barometer of future US economic activity fell for a fifth month in October, the longest decline since 1995, signaling that the world&#39;s largest economy may slow in coming months.
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The OECD on Wednesday reduced its forecast for U.S. economic growth and recommended a rapid cut in interest rates to limit the fallout from a housing and mortgage market slump that has sparked global financial market turmoil.
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The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group.
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WASHINGTON US economic growth will slow to 3.5 percent in 2005, but still generate average monthly job gains of about 175,000, the Bush administration predicted Friday in a rosy annual forecast that promised solid growth, low inflation and falling
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The US economy grew at a slower pace than expected during the last three months of 2004, Commerce Department figures show.
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The U.S. economy is running out of steam but Europe's resurgence and Asia's awakening will prevent the world's economy from derailing as it did after the stock market crash of 2000, the OECD said in a report on Tuesday.
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The US economy grew more slowly in the second quarter than previously stated, as it struggled under an increasing trade deficit and a slowdown in consumer spending, the Commerce Department said Friday.
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Growth in the US economy this year is likely to be 4.3%, the OECD forecast today, lowering an earlier forecast of 4.7%. But the Japanese economy was set to grow by 4.4% instead of 3% forecast earlier and the euro zone by 2% instead of 1.6%.
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The slowdown may signal that the economy is shifting down a notch from its unexpectedly robust pace of growth at the end of last year.
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The US economy appears set for a soft landing, the OECD said Wednesday, but it warned that the troubled sub-prime mortgage sector still poses a major risk.
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The economic outlook for the United States and Japan weakened slightly in October, but prospects for the Eurozone improved slightly, according to an early warning indicator issued by OECD on Friday.
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US News, CHICAGO - US economic growth is expected to slow in 2005 due to rising interest rates and high crude oil prices, according to a forecast of participants at a Federal Reserve Bank of Chicago conference released on Monday.
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The Organization for Economic Co-operation and Development (OECD) predicts global economic growth to be at 3.6% in 2004. The OECD lowered its forecast in the wake of a rise in oil prices and drop in consumer confidence.
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The U.S. economy should experience slower growth than originally anticipated for the remainder of the year and in 2007, the White House said Tuesday.
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Growth in US services - the engine driving the world's biggest economy - has slowed sharply, a survey suggests.
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WASHINGTON -- Despite soaring oil prices and a slumping dollar, the United States enjoyed a banner year in terms of economic growth in 2004, but the new year is likely to see a significant slowdown, private economists say.