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Oil rout positive for global economy: IIF

Boost for global demand as oil price fall shifts purchasing power to consumers

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WHAT IT MEANS: Assuming the oil price decline is largely sustained, the net effect could be a rise in global GDP by roughly 0.5 per cent over a two-year period.

Tokyo

DESPITE turbulence in energy markets and dramatic falls in the price of oil, "the overall net impact on the global outlook is clearly positive", the Washington-based Institute of International Finance (IIF) said in a report on Friday.

The result of the oil price decline will...

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