The OECD was slightly less pessimistic about Britain’s outlook than it was in September, as the central bank has helped ease the economic impact of the country’s decision to leave the European Union.
Britain’s economy was seen growing 2.0 percent this year, revised up from 1.8 percent previously, although the rate would be halved by 2018.
China, which is not a member of the 35-country OECD, was seen slowing from growth this year of 6.7 percent to 6.4 percent in 2017, both slightly better than previously expected.
Stronger U.S. import demand was seen offsetting weak Asian trade for Japan, where growth was revised up to 0.8 percent for this year from 0.6 percent previously and lifted to 1.0 percent in 2017 from a 0.7 percent estimate in September.
The euro area’s outlook was also slightly brighter despite uncertainties about Britain’s future relationship with the continent.
Boosted by loose monetary policy,euro area growth was seen at 1.7 percent this year and 1.6 percent in 2017 with both years revised slightly higher from the OECD’s September estimate