Published: Wed, October 11, 2017
Research | By Derrick Holloway

IMF Raises Israeli Economic Outlook for 2017, 2018

IMF Raises Israeli Economic Outlook for 2017, 2018

China's economy was slowing steadily, raising fears of economic fallout in the developing countries that supply raw materials to the world's second biggest economy.

In its latest World Economic Outlook, the organisation said it still expects United Kingdom growth to drop to 1.7% in 2017 from 1.8% in 2016, and slow even further in 2018 to 1.5%.

The World Bank's growth projection made in June was 7.2 percent for this year and 7.5 percent next year. India's GDP growth slumped to a three-year low of 5.7% in the June quarter, triggering downgrades in estimates for the full fiscal year.

The region's 2018 prospects are just below that of the world economy as a whole, which is forecast to grow by 3.7 per cent next year, and far ahead of the average for advanced economies, which are predicted to grow by just 2 per cent.

"Growth is expected to soften temporarily to 2.2 per cent in Australia, where housing investment and mining exports in the first half of the year were undermined by bad weather", the report says. These are the only six years which are comparable, according to the revised methodology of calculating the GDP with 2011-12 as the base year, against 2004-05 that was used previously.

SpaceX rocket blasts off from Vandenberg for third satellite mission
SpaceX is targeting launch of Iridium-3 from Space Launch Complex 4E (SLC-4E) at Vandenberg Air Force Base in California. It was the 14th Falcon 9 flight of the year, and the 42nd launch of a Falcon 9 rocket overall since 2010.

The Washington-based institution raised its projection for US growth by 0.1 point from July to 2.2 percent this year and by 0.2 point to 2.3 percent next year, citing supportive financial conditions and strong business and consumer confidence.

Zambia's public debt is growing unsustainably, making the economy of Africa's No. 2 copper producer vulnerable to market swings and reversals in capital flows, the International Monetary Fund (IMF) said on Tuesday.

The IMF said it now expects China to post 6.8% growth in 2017 and 6.5% next year, up from previous projections of 6.7% and 6.4% respectively.

The IMF's new forecast for global growth this year and next was boosted by one-tenth of a percentage point each year, compared with the organization's views in July.

These more than offset downward revisions for some countries such as India.

Nokia axes employees to refocus business, stops OZO VR camera development
OZO was the first consumer hardware device launched by Nokia after it sold off its mobile phone business to Microsoft in 2013. The company said it has invited employee representations from its Finland business to engage in cooperation negotiations.

Maurice Obstfeld, chief economist at the IMF, said the reduction in the fund's long-term outlook for the United Kingdom from an annual growth rate of 1.9 per cent to 1.7 per cent was a direct effect of leaving the EU.

"These positive developments give good cause for greater confidence", the International Monetary Fund said.

The UK is also the exception among advanced economies when it comes to inflation.

However, since then the retail price inflation has risen in July and August in India. Subsequent forecasts became more pessimistic, and two months before last June's European Union referendum, the fund predicted 2.2 per cent growth.

The IMF recommended that "simplifying and easing labor market regulations and land acquisition procedures" would help India improve the business climate.

Sears Could Close All Stores For Good
Employees will not be compensated, Power said, as it is not allowed through the Company Creditors Arrangement Act. In Regina, the Sears Home Store in Quance Street remained open as of Tuesday morning.

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