Global Economy Strong Growth
The global economy rebounded in the first quarter Global Economy Strong Growth
MOSCOW – The global economy shows strong growth in the first quarter, despite the fact that oil has risen by about 40% by the end of April due to an agreement by OPEC and other oil exporters to limit its production and US sanctions against Iran and Venezuela, Vedomosti reports.
Experts give this two basic explanations. First, according to some of them, the rise in prices reflects the high demand for oil. Secondly, the shale revolution in the United States has changed the situation on the market. Its production limits the rise in prices, and it is no longer so terrible for the US economy, which can turn from an oil importer into a net exporter.Global Economy Strong Growth
The annual growth rate of China’s economy remained at 6.4% thanks to measures that Beijing took to stop its slowdown.
US GDP unexpectedly rose by 3.2%, while quarterly growth in eurozone GDP accelerated to 0.4% after 0.1 and 0.2% in the third and fourth quarters of 2018, respectively.
Italy managed to get out of the technical recession, showing a growth of 0.2%. In annual terms, the eurozone economy grew by 1.2%.
Unemployment in the eurozone in March fell to 7.7% – the lowest since 2008. In the US, it fell in April to 3.6%, the lowest level since December 1969.
Earlier it was reported that Russia’s GDP in 2018 grew by 2%. The Ministry of Economic Development expected the economy to grow by 1.8% in 2018.
Author: Anna Larionova