(Boursier.com) – The OECD lowered Monday its economic growth forecasts for major economies. The organization says it now expects gross domestic product (GDP) of the United States by 2.1% this year and 3.1% in 2015 For the UK, it expects an increase 3.1% in 2014 and 2.8% in 2015 and 2.3% and 2.7% for Canada. Under the continuing influence of monetary stimulus, Japan is expected to grow by 0.9% percent in 2014 and 1.1% in 2015.
0.4% for France
“The euro area is expected to see growth rates of 0.8% in 2014 and 1.1% in 2015 Growth prospects are very different between the major economies of the euro area. should Germany observe an increase of 1.5% in 2014 and 2015, the France of 0.4% in 2014 and 1% in 2015 (according to government forecasts, Editor’s note), while Italy will record a decline of -0.4% in 2014 and a gain of only 0.1% in 2015, “explains the OECD.
Risk of persistent deflation
The OECD estimates that the level of inflation euro area, the lowest since 5 years in August to 0.4%, increasing the risk of deflation. Consequently, “the OECD recommends more monetary stimulus in the euro area,” said the organization in a statement accompanying its new forecasts. “The recent actions of the ECB are welcome but additional measures, including quantitative easing is needed,” says the OECD.
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