Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Organization for Economic Co-operation and Development (OECD) has slashed GDP forecast for United Kingdom and also issued economic warnings against Britain’s exit from European Union, in a report today.
It has GDP forecast by 0.4% to 1.7% for the year 2016. It has also slashed GDP forecast for United States by 0.2% to 1.8% for the year. Japan’s GDO got revised from 0.8% to 0.7%. In contrast Euro Zone GDP got forecasted up from 1.4% to 1.6%. It forecasted 3% growth globally, citing weaker trade growth, subdued investments, sluggish wages and lower economic activities in many emerging markets.
However, it warns it would be much different from these baselines, if Brexit do occurs. UK GDP will get reduced 0.5% every year up to 2018 and growth will be 3% lower from the baseline scenario of stay by 2020. It warns global impact could be much bigger if Brexit creates significant financial market volatility. It says, Europe would suffer too as rest of it would face GDP shrinkage in tune of 1%.
“The reduced access to the EU market would lower inward foreign direct investment, with associated adverse effects on innovation and managerial quality. Lower trade openness would hit economic dynamism and productivity”
