03 September 2013 13:34 [Source: ICIS news]
LONDON (ICIS)--Growth is gradually returning to mature economies across the globe, despite persistent weak output in parts of the eurozone, but is slowing in emerging economies, the Organisation for Economic Co-operation and Development (OECD) said on Tuesday.
The group described growth rates for North America, the ?xml:namespace>
Momentum for developing world economies has started to slow, the OECD said, driven in part by a rise in global bond yields leading to market instability and increased outflows of capital from key emerging markets.
A significant driver behind the increase in treasury prices is the expectation that the US Federal Reserve will begin to scale back its quantitative easing programme in the near future, meaning that foreign investment levels from the
OECD deputy chief economist Jorgen Elmeskov said: “The gradual pick-up in momentum in the advanced economies is encouraging but a sustainable recovery is not yet firmly established. Major risks remain. The euro area is still vulnerable to renewed financial markets, banking and sovereign debt tensions.
“High levels of debt in some emerging markets have increased their vulnerability to financial shocks. And a renewal of brinksmanship over fiscal policy in the
The OECD predicts that North America,
Of the largest eurozone economies, the OECD is predicting that German GDP will grow by 0.7% in 2013, while
The slowdown in
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