Thursday 23 September 2021

A Tale of Two Takes

The OECD's predictions for the world economy received some contrasting coverage this week.

City AM headlined their take OECD: UK muscles out G7 to top economic growth rankings, and began:
The UK economy will grow the fastest among the group of the world’s richest countries, according to the Organisation for Economic Co-operation and Development (OECD). 
The OECD thinks the UK economy will expand 6.7 per cent in 2021, the highest rate of growth among the G7.”
That sounds positive, but the BBC found a negative angle for their take. Their headline is Inflation to remain higher for two years, warns OECD, and - in contrast to City AM - the BBC compared the UK unfavourably with the world's other richest countries, beginning:
Prices in the G20 group of major economies will grow faster than pre-pandemic for at least two years, a leading global agency has forecast.
Higher commodity prices and shipping costs are pushing up inflation, Paris-based policy forum the OECD said.
The UK is expected to have inflation running at about 3% at the end of 2022, the highest rate of the advanced economies, the OECD said.
By contrast, inflation is expected to fall in the US, France, and Germany.
It's very BBC of the BBC to cast us in an unfavourable light.

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