Latest Organisation for Economic Co-operation and Development report 21 Sept

  • global 2016 GDP forecast down to 2.9% vs 3% prev
  • 2017 GDP f/c 3.2% vs 3.3% prev
  • US GDP cut to 1.4% in 2016 and 2.1% in 2017 vs 1.8% and 2.2% prev
  • EZ GDP cut to 1.5% and 1.4% vs 1.6% and 1.7% prev
  • Japan 2016 GDP cut to 0.6% vs 0.7% prev. 2017 raised to 0.7% vs 0.4%
  • UK 2016 GDP raised to 1.8% vs 1.7% prev. 2017 cut to 1.0% vs 2.0% prev

That large downward revision for UK in 2017 reflects the uncertainty that lays ahead regardless of what's happening at the moment.

Says the OECD:

"While a strong response from the Bank of England has helped stabilise markets, uncertainty remains extremely high and risks are clearly on the downside."

Full report here