OECD gas output fell 3.2% in January

Natural gas production in member nations of the Organisation for Econonic Co-Operation and Development fell by 3.2% on year in January, according to the International Energy Agency (IEA). The fall was led by the United States, where production declined by 2.8% amid the Covid outbreak. Production of European members fell by 5.9% mostly due to […]

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World economy unlikely to reach pre-pandemic output levels before 2022: Dun & Bradstreet

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With COVID-19 still dominating the major economies, the world economy is not likely to re-attain pre-pandemic output levels before 2022, says a report by Dun & Bradstreet Country Risk and the Global Outlook, August 2020. “Nothing about the pandemic can be classified as over, despite recoveries in activity levels in some economies in Q3, as […]

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Weekly Wrap – India expects V-shaped post-Covid recovery; agro remains bright spot

India’s Finance Minister Nirmala Sitharaman said in her ministry’s monthly review that the country is witnessing a V-shaped economic recovery and attributed the steep 23.9 per cent contraction of the economy in the June quarter to “stringent lockdown” that was put in place to curb spreading of coronavirus infections.  Further, the report said the country […]

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Sixteen global steel industry groups to find ways to reduce overcapacity in global steel

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Sixteen steel industry associations on five continents including Indian Steel Association today praised the agreement by a “large majority of members of the Global Forum on Steel Excess Capacity (GFSEC)” to “continue the Forum’s work on the issue of steel excess capacity,” and called upon the few dissenting members to reconsider their current position as […]

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Tax revenues in Asian and Pacific economies rebound: OECD Report

Tax-to-GDP ratios increased in the majority of Asian and Pacific economies covered by a new OECD report published recently. Nine of the economies in the publication increased their tax-to-GDP ratios between 2016 and 2017, compared with only three in the preceding year, according to Revenue Statistics in Asian and Pacific Economies 2019. This sixth edition […]

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OECD cuts global growth forecast over trade tensions, Brexit uncertainty

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Trade tensions and political uncertainty, including Brexit, are weighing on the world’s economy, the Organisation for Economic Co-operation and Development (OECD) warned as it again cut its 2019 forecast for global economic growth to 3.3% for the current year, down from 3.5% it predicted earlier. “High policy uncertainty, ongoing trade tensions, and a further erosion […]

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