• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 2 mins OPEC will consider all options. What options do they have ?
  • 17 mins Danish Royal Palace ‘Surprised’ By Trump Canceling Trip
  • 3 hours What to tell my students
  • 2 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 9 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 3 mins A legitimate Request: France Wants Progress In Ukraine Before Russia Returns To G7
  • 8 hours Recession Jitters Are Rising. Is There Reason To Worry?
  • 3 hours With Global Warming Greenland is Prime Real Estate
  • 1 hour China Threatens to Withhold Rare Earth Metals
  • 17 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 16 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents, building nukes * Too late now
  • 12 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 18 hours Flaring is at Record Highs in Texas
Alt Text

Trump, OPEC Jawbone Oil In Opposite Directions

The Saudis and President Trump…

Alt Text

Shale Bankruptcies Are On The Rise

The number of shale bankruptcies…

Frik Els

Frik Els

Frik Els is editor for MINING.com in Vancouver, BC. Frik has been writing on business for the past 15 years covering the resource industry, investment, autos,…

More Info

Premium Content

World Bank: Trump To Boost U.S. Economic Growth And Commodities

A pillar of president-elect Trump's economic plan is fiscal stimulus in the form of tax cuts and $500 billion-plus of infrastructure spending.

Trump's victory sparked a rally in the copper price which is seen as a bellwether for metals and industry as a whole thanks to its widespread use in construction, the power sector, manufacturing and transportation.



The World Bank's outlook for the world economy in 2017 released on Tuesday includes a look at the effect accelerating growth in the U.S. could have in the rest of the world and on the commodities sector.

The World Bank predicts that among advanced economies, growth in the United States is expected to pick up to 2.2 percent, as manufacturing and investment growth gain traction after a weak 2016. But if Trump’s stimulus plans are fully implemented, it could lift GDP growth to 2.5 percent this year and to 2.9 percent in 2018.

The World Banks says developments in the U.S. economy, the world’s largest, have effects far beyond its shores and business cycles have been highly synchronized between the U.S., other advanced economies, and emerging markets.

A surge in U.S. growth — whether due to expansionary fiscal policies or for other reasons — could provide a significant boost to growth of the global economy, by up to 0.1 percent in 2017 and by at least 0.3 percent in 2018 provided that no offsetting policies are implemented according to the report.

(Click to enlarge)

Stronger U.S. growth would help global activity by raising U.S. demand for trading partners’ exports. A 1 percent increase in U.S. growth could boost growth after one year by 0.8 percent in other advanced economies, and by 0.6 percent in emerging economies. Related: The Next Big Innovation In Oil & Gas: Cloud Computing

With the rise of large emerging markets, such as China and India, the U.S. impact on commodity markets has diminished over time.

However, the World Bank says that the United States is still the largest consumer of natural gas and oil, accounting for more than one-fifth of global consumption.

The country is also the second largest consumer of a wide range of commodities, including aluminum, copper and lead.

While the bank expects faster expansion in the U.S., commodity-importing emerging market and developing economies, in contrast, should grow at 5.6 percent this year, unchanged from 2016.

China is projected to continue an orderly growth slowdown to a 6.5 percent rate.

By Frik Els via Mining.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play