Mr Pereira said global growth would be led by a recovery in investment, while an increase in trade volumes of 5.2% in 2017 was expected to continue in 2018.
The Paris-based organisation said the world economy was on course to expand at an annual pace of 3.9% over the next two years.
An improved outlook for world economic growth will be placed at severe risk if a trade war results from U.S. metal tariffs, a report has warned.
The global economy will grow close to 4 per cent this year and next, better than previously anticipated, according to the OECD, which added a warning that a trade war could roll back the gains seen in recent years.
The latest round of protectionism was triggered by US steep tariffs on imported steel and aluminum.
Global economic growth accelerated past year as higher investment and falling unemployment drove pickups in most major economies.
Financial markets have been hit by fears of a trade war following U.S. President Donald Trump's move to slap tariffs on steel and aluminum imports.
With tax cuts boosting the economy this and next year, the OECD forecast the upper bound of the target federal funds rate could reach 3.25 percent by the end of 2019 from 1.5 percent now.
OECD Acting Chief Economist Alvaro Pereira observed: "In this environment, an escalation of trade tensions would be damaging for growth and jobs".
China and Japan were forecast to achieve yearly growth rates of 6.7 percent and 1.5 percent, respectively, this year. That was higher from a November forecast of 1.2 percent due to the broader global improvement.
Last week, Stats SA reported higher than expected GDP growth for South Africa in 2017, showing that the economy grew by 1.3%, exceeding National Treasury's expectation of 1.0%.
The OECD said high inflation would eat into United Kingdom household income while business investment would slow in the face of uncertainty over Britain's future relationship with the EU.
"Governments should avoid escalation and rely on global solutions to resolve excess capacity in the global steel industry".
The report revised 0.4% higher its predictions for USA growth - hitting 2.9% this year. "Safeguarding the rules-based global trading system is key".
However, after levelling up at 2-2, Federer hurried to a one-set lead in the next four games, winning three of them to love. Federer, a 20-time Grand Slam champion, has already won the Australian Open and Rotterdam Open this year.
It was only just recently that the much beloved Rick Ross [VIDEO ] was reportedly in the hospital on life support. Rapper Biz Markie also paid tribute , saying: "He had two flawless singles and the platonic rap remix".
MPs were evacuated from the Norman Shaw North building inside parliament on Monday after a "suspicious substance" was found. They said they immediately alerted authorities and followed procedure, which led to the area being cordoned off.
Cowen restated a "buy" rating and set a $8.00 price objective on shares of Oclaro in a research report on Tuesday, February 6th. Nj State Employees Deferred Compensation Plan has 80,000 shares for 0.13% of their portfolio. (NYSE:COH) for 35,855 shares.
Trump's remarks at a campaign rally Saturday night are the latest example of his inappropriate behavior, Flake said. Flake said on NBC's " Meet the Press ". "But that's not to say it will stay that way", Flake responded.
Abrams' Demimonde , Jordan Peele's Lovecraft Country, True Detective, Sharp Objects, The Deuce and Here and Now, among others. Kidman won an Emmy for her performance in Big Little Lies . "I loved this book", added Kelley in a statement.
Crosstown rival USC did not receive an at-large bid, despite its second-place showing at the Pac-12 Tournament . Bonaventure is driven by the guard play of seniors Jaylen Adams (19.8 points per game) and Matt Mobley (18.5).
Presidential Spokesperson Harry Roque welcomed Lu's comment, saying "that basically should be the correct stand of all states". That is provided for in the Constitution itself, our Constitution", Duterte said.
Hughes has taken charge of almost 450 Premier League matches for Blackburn, Manchester City , Fulham, QPR and Stoke. So they hired Pellegrino, and nine months on they must be regretting their decision.
Pogba misses training ahead of Sevilla tie
Rivals Watch: Following the four ties that were played last week, there are four more last-16 games taking place this week. David De Gea was undoubtedly the stand-out performer as the Reds played out a goalless draw in Andalucia three weeks ago.
CM Punk teases a fight at UFC 225
It's been rumored for a while now, and where there's smoke, there's more often than not fire. June 9th, 2018 is when UFC 225 happens in CM Punk's own hometown of Chicago, Illinois.
Solace for Uber as Ola officially launches in Sydney
SoftBank is also the largest shareholder in Uber, after the Japanese telecom firm recently bought 15 per cent of its stake. Ola, a ride-hailer originally out of India, launched in Sydney Monday following its introduction in Perth last month.
Storm Team 11 Forecast: Cloudy with scattered flurries
A few sprinkles will be possible in Eastern Kentucky for Wednesday and Thursday , with a wintry mix possible for Friday . Under clear skies and with winds going calm Wednesday morning lows will once again drop into the upper 30s to lower 40s.
Rabada, de Villiers set up South Africa win
But an aggressive AB de Villiers cameo took the game away from Australia as he hit four fours and one six in a 26-ball 28. How he has played the game since has been a credit to the man and his teammates around him.