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Money OECD raises outlook for Canadian growth

21:22  13 march  2018
21:22  13 march  2018 Source:   msn.com

Oil demand growth to shift to petrochemicals away from motor fuels: IEA

  Oil demand growth to shift to petrochemicals away from motor fuels: IEA Strong global demand for oil and gas will shift in the next five years towards petrochemicals and away from motor fuels gasoline and diesel, the International Energy Agency says.CFP

The Organization for Economic Co - operation and Development has raised its expectations for economic growth in Canada this year compared with a June forecast. The OECD maintained its Canadian outlook for 2018 at 2.3 per cent.

The OECD is raising its economic forecast for Canada amid a strengthening global economy, but also warns that tensions are appearing that could threaten global growth .

OTTAWA - The OECD is raising its economic forecast for Canada amid a strengthening global economy, but also warns that tensions are appearing that could threaten global growth.

a man standing in front of a crowd© Provided by thecanadianpress.com

The Paris-based economic think-tank says trade protectionism remains a key risk that would negatively affect confidence, investment and jobs.

The OECD comment follows moves by the U.S. to impose tariffs on steel and aluminum imports from most countries in the world, with Canada and Mexico exempted.

The OECD says it now expects the Canadian economy to grow 2.2 per cent this year, up from an earlier prediction of 2.1 per cent.

It also raised its Canadian growth outlook for next year to 2.0 per cent compared with its forecast in November for 1.9 per cent.

The OECD says the revised outlook compares with growth of 3.0 per cent last year in Canada.

Global Momentum Shows Cracks as Trade War Looms Over Economy .
Global Momentum Shows Cracks as Trade War Looms Over Economy(Bloomberg) -- The global economy’s upswing showed signs of strain in March as a drop in momentum at businesses from Japan to the euro region underscored the world’s vulnerability to confidence shocks from a trade war.

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