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While the OECD report focused on U.S. economic impact related to energy, world trade agreements are also in flux pending the outlcome of the EU's giving into foreign pressure from exporting countries that want agricultural supports lowered. Foreign demand for oil in China and Europe will affect those economies as well and could in turn make the U.S. forecasts not appear as weak, American financial publisher AXcess News believes.

Internet Business Opportunity The Organization for Economic Cooperation and Development, OECD, said it cut its economic forecast for European growth from 2.4% to 1.9% due to high oil prices.If you would like to receive late breaking news on oil & gas stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

(EUNN) The Organisation for Economic Cooperation and Development (OECD) yearly Economic Outlook report that oil's uncertainty in price remains an inflationary aspect to key risk ofthe U.S. economy. The OECD said that the U.S. economy withstood the impact of hurricanes and high energy costs andis expectedto grow 3.6 percent in 2005and will continue at or above its trend rate in 2006, but the United States is also vulnerable to higher oil prices as well therefore its ecomony could be at risk as well.

Free Money Nov 30, 2004 (AXcess News) Paris - The Organization for Economic Cooperation and Development, OECD, said it cut its economic forecast for European growth from 2.4% to 1.9% due to high oil prices.

Last May the OECD forecast the U.S. economy to grow at a rate of 3.3 percent. The report stated that U.S. consumer spending remains strong, supported by higher wages and rising home values. Government spending and higher revenues from U.S.-based oil producers have aided the U.S. economy as well, the OECD said. Business spending was also noted to remain strong as was a decline in U.S. unemployment following the hurricanes.

Work At Home Business The organization, based in Paris, released its semi-annual report Tuesday. The latest report said growth across its 30-nation membership would be sluggish due to slowing trade and higher oil prices."There are nonetheless good reasons to believe that despite recent oil price turbulence the world economy will regain momentum in a not-too-distant future," OECD chief economist Jean-Philippe Cotis said in an introduction to the report.

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Free Online Affiliate Program The report predicted U.S. growth of 4.4 percent this year and scaled back its forecast for next year to 3.3 from 3.7 percent. It also cut its Japanese growth forecasts to 4.0 from 4.4 this year and 2.1 from 2.8 for 2005.

Also, operation and Development (OECD) told the monetary policy committee that it had revised its economic forecast to 2.8 per cent from the 2. term growth rate. This would need reining in, comments the Guardian, which is another reason why analysts are predicting a further rate rise in November.

Auction Coin Money Paper The OECD also predicted record world trade growth of 9.5 percent in 2006 after a dip next year to 9 percent.

Franchise Business Opportunity Only in the Euro zone were figures the lowest due to German household expenditures dropping.The report falls on the heels of the International Monetary Fund's, whose figures closely match that of the OECD report.Advertisement

Best Free Online Affiliate The OECD did however highlight the shrinking dollar's value which affects the Euro zone's ability to export to the USA.

Blogging Money Thebillivard The OECD predicted that the European Central Bank would hold off raising interest rates until 2006. Previously, it was expected that the ECB would follow the Fed's move and raise short-term rates.

Best Home Based Business The Federal Reserve is expected to raise its key interest rates by a quarter percentage point by 2006, bringing the figure to 4 percent.

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