Home / Knowledge / News / Textiles / G20 economies to grow at a little more than 3%: Moody's
G20 economies to grow at a little more than 3%: Moody's
02
Sep '17
The G20 economies will collectively grow at an annual rate of a little more that 3 per cent in 2017 and 2018, higher than the 2.6 per cent recorded in 2016, according to a recent report by global rating agency Moody’s. For Asia Pacific, strong data for the first half of 2017 have prompted upward revisions to the year’s growth forecasts for China, Japan and Korea.

Moody's expects that the synchronized global economic expansion currently under way will continue for the rest of 2017 and 2018, the company said in ‘Global Macroeconomic Outlook (August 2017 Update): Above-potential growth in advanced economies propels economic expansion’.

With considerable slack remaining in some euro area economies and some emerging market countries, the current pace of growth of around 2 per cent in the advanced economies and more than 5 per cent in emerging markets is not only sustainable in the near term, but also has potential for upside, it said.

Any escalation of conflict in the Korean Peninsula, the South China Sea, and the Middle East, financial market volatility arising out of sudden changes in market expectations regarding monetary policy tightening in developed nations, a probable protectionist turn of US trade policy and unanticipated spillovers from the implementation of deleveraging measures in China are major area of concerns that have the potential to negatively affect economies in the Asia Pacific.

China's GDP growth forecast has been revised to 6.8 per cent from 6.6 per cent for 2017 and to 6.4 per cent from 6.3 per cent for 2018. For Australia, GDP growth for 2017 may rise to 2.5 per cent from 2.4 per cent in 2016 and then 2.7 per cent in 2018.

In India, the economy decelerated in the first quarter of 2017 because of demonetization, registering a real GDP growth rate of 6.1 per cent year-on-year, down from 7 per cent in the previous quarter. However, Moody's believes that growth will be firm in the second half of 2017 as the impact of demonetization slowly diminishes. So, it has made only a marginal downward revision of India's real GDP growth forecasts to 7.1 per cent, from 7.2 per cent, for the calendar year 2017.

Moody's also revised South Korea's growth forecast to 2.8 per cent for 2017 and 2.5 per cent for 2018, up from 2.5 per cent and 2.0 per cent respectively. Its revised growth forecasts for the United States stands at 2.2 per cent in 2017 and 2.3 per cent in 2018, down from 2.4 per cent and 2.5 per cent respectively — a result of a weaker performance in the first half of the year. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search