World economy growing faster than in years, but not for long

PARIS (AP) — The world economy is growing faster than it has in seven years and more people are working — but the high growth isn’t expected to last long.

That’s according to forecasts Tuesday from the Organisation for Economic Co-operation and Development. They predict growth in the U.S. and a sharper-than-expected increase in the countries that use the euro currency for this year and next.

For 2019, the group of leading economies forecasts “a tempering of growth rather than continued strengthening.”

It slightly raised its global growth forecast to 3.6 percent this year, the highest since the post-crisis upturn in 2010, but said it “remains modest by past standards.”

Chief economist Catherine Mann urged deeper reforms to tax, retirement and energy policies among other changes to ensure better living standards for all.

This post originally appeared on Townhall


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