Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Economic growth in the G7 countries is expected to be stronger through the first half of 2012, with Canada and the United States leading the charge while the eurozone continues to find its way back to stability, the Organization for Economic Co-operation and Development said Thursday.
The OECD’s interim assessment forecasts the collective economies of the seven most powerful countries in the world to come in at 1.9% in each of the first two quarters of the year, an improvement on the 1.1% registered in the fourth quarter of 2011.
“Our forecast for the first half of 2012 points to robust growth in the United States and Canada, but much weaker activity in Europe, where the outlook remains fragile,” Pier Carlo Padoan, chief economist with the OECD, said in a presentation in Paris. “We may have stepped back from the edge of the cliff, but there’s still no room for complacency.”
The United States is forecasted to grow 2.9% and 2.8% respectively in the first two quarters on firming employment, stronger consumer confidence, a rebound in the stock markets and credit growth, while Canada’s economy will grow 2.5% in both quarters.
As well, Japan is expected to rebound strongly to 3.4% GDP growth in the first quarter on firmer industrial production and a weaker yen, although the second quarter is forecasted to pull back to 1.4% growth.
However, in Europe prospects remain weak. Germany, France and Italy are expected to post a collective weighted 0.4% decline in GDP growth in the first quarter, following a 0.8% drop in the previous quarter, before rebounding to modest 0.9% growth in the second quarter of 2012.
Economic growth in the G7 countries is expected to be stronger through the first half of 2012, with Canada and the United States leading the charge while the eurozone continues to find its way back to stability, the Organization for Economic Co-operation and Development said Thursday.
The OECD’s interim assessment forecasts the collective economies of the seven most powerful countries in the world to come in at 1.9% in each of the first two quarters of the year, an improvement on the 1.1% registered in the fourth quarter of 2011.
“Our forecast for the first half of 2012 points to robust growth in the United States and Canada, but much weaker activity in Europe, where the outlook remains fragile,” Pier Carlo Padoan, chief economist with the OECD, said in a presentation in Paris. “We may have stepped back from the edge of the cliff, but there’s still no room for complacency.”
The United States is forecasted to grow 2.9% and 2.8% respectively in the first two quarters on firming employment, stronger consumer confidence, a rebound in the stock markets and credit growth, while Canada’s economy will grow 2.5% in both quarters.
As well, Japan is expected to rebound strongly to 3.4% GDP growth in the first quarter on firmer industrial production and a weaker yen, although the second quarter is forecasted to pull back to 1.4% growth.
However, in Europe prospects remain weak. Germany, France and Italy are expected to post a collective weighted 0.4% decline in GDP growth in the first quarter, following a 0.8% drop in the previous quarter, before rebounding to modest 0.9% growth in the second quarter of 2012.
Well that is some good news now only if the Eurozone can recover we can all can have a Robust world economy again.
This is all "forecast" growth. Just stand by for the all to common phrase "was lower then the experts predicted" when we speak about the US economic growth in a few months.
In the United States, GDP growth increased to +0.7% in the fourth quarter of 2011, compared with +0.5% in the third quarter, but slowed in China to +2.0%, compared with +2.3% in the third quarter.
In Japan, economic growth decreased to -0.2 percent, following the strong rebound (+1.7 percent) in the third quarter. GDP fell by -0.3 percent in both the European Union and the euro area in the fourth quarter of 2011, the first fall since the second quarter of 2009.
I think will also depend if China's economy has a Hard or Soft landing...right now it looks like they are heading for a Rather Rough Landing..which will have a negative effect on our Resource Producing North American economy also.
Basdcialy IMO the US econmy is just moving sideways ;really. Do not confuse market gains that refelct US compaies profit from world operations with US economy. Growth at 2% is about sideways. We still have done nothig about gwoing defcit spending.Unemployed numbers are higher but there are resons that include low particapation rate amoung workig age adults;with mnay just sitting down as its called not workig or looking.Yes europe has problems i antions ulike germany who made cuts i the 90's Bascailyl they did what we have done in wealth sharig much earlier . We just stared that i the mid 60's. Bascially too many dependent on too few does not work.
Basdcialy IMO the US econmy is just moving sideways ;really. Do not confuse market gains that refelct US compaies profit from world operations with US economy. Growth at 2% is about sideways. We still have done nothig about gwoing defcit spending.Unemployed numbers are higher but there are resons that include low particapation rate amoung workig age adults;with mnay just sitting down as its called not workig or looking.Yes europe has problems i antions ulike germany who made cuts i the 90's Bascailyl they did what we have done in wealth sharig much earlier . We just stared that i the mid 60's. Bascially too many dependent on too few does not work.
I think after the 2012 election no matter which party wins there will be massive cuts across the board to try and right the ship and get the economy back on track and cut out alot of the wasteful govronment spending and programs ...Well I hope who ever is elected does that...
I think after the 2012 election no matter which party wins there will be massive cuts across the board to try and right the ship and get the economy back on track and cut out alot of the wasteful govronment spending and programs ...Well I hope who ever is elected does that...
If the government cuts back before full recovery... expect another economic debacle.
I think after the 2012 election no matter which party wins there will be massive cuts across the board to try and right the ship and get the economy back on track and cut out alot of the wasteful govronment spending and programs ...Well I hope who ever is elected does that...
Really? So what are Canada and the U.S. doing differently? Oh, yes, they've not (yet) adopted austerity budgets.
"Austerity has led to slower growth and greater debt burdens in European countries, a precursor of what will happen here under Republican proposals.
...
Rather than falling, debt burdens are rising fastest in European countries that have enacted the most draconian austerity programs, according to the Associated Press. "
If the government cuts back before full recovery... expect another economic debacle.
I think it depends on what is being cut I mean if Redundant Civil Servant jobs and Government Pension Plans and wages are cut then it would be a good thing IMO.
I think it depends on what is being cut I mean if Redundant Civil Servant jobs and Government Pension Plans and wages are cut then it would be a good thing IMO.
It is still putting a person/family into unemployment. Won't be a problem if private sector was running full steam. But private sector won't hire if it doesn't find buyers. That is a fact ALWAYS omitted and purely on ideological grounds.
When you have millions of people out of job, would you prefer (between the two), that 200K are employed or 250K? Or let us take a look at an extreme case... lay off all (over 2 million) government employees tomorrow. Good idea?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
