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

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Suresh P Bagrecha

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

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...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Ritu Kumar
Label Ritu Kumar

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

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search