Outcome of Brexit: OECD

Key details:

21/09/2016 from China

-The first graph indicate the percentage of GDP growth from OECD countries: UL, US, Eurozone, Canada and Japan in 2016. Unlike most developed countries, Britain’s 2016 revised up sightly to approximate 1.8%.

-The OECD suggested the UK should use this fall in the deficit to begin borrowing more money again, spending on infrastructure in an effort to boost economic growth and counter next year’s slowdown.

-“The OECD highlights uncertainty in their outlook, and while I recognize that there may be some difficult times ahead, I am confident that we have the tools necessary to support the economy as we adjust to a new relationship with the EU and take advantage of the opportunities that it offers” said Chancellor Philip Hammond.

 

Assessment:

Britain’s improved figure came even as the OECD trimmed its forecasts for most other large economies this year, citing weak trade growth and poor productivity. The multi-trade promotes the increasing of UK economics.

 

http://www.telegraph.co.uk/business/2016/09/21/brexit-not-as-bad-as-feared-says-oecd-as-it-performs-u-turn-on-2/