Economic outlook, analysis and forecasts
Just released: the OECD Economic Outlook
The expansion is set to persist over the next two years, with global GDP projected to rise by close to 4% in 2018 and 2019. Growth in the OECD area is set to remain around 2½ per cent per annum, helped by fiscal easing in many economies, and will strengthen to close to 5% elsewhere.
Economic Outlook Special Chapters
> How to make trade work for all
International trade has been a powerful engine of global economic growth and convergence in living standards between countries. Trade liberalisation has contributed to large economic gains of emerging market economies and to poverty decline.
> Using the fiscal levers to escape the low-growth trap
In the context where public debt has reached high levels in most OECD countries, it is important to assess the extent of countries' fiscal space and the temporary deficit increase they can afford to run. A rethink is needed for how the fiscal policy stance should be evaluated, particularly in the context where very low sovereign interest rates provide more fiscal space.
> Promoting productivity and equality: a twin challenge
Economies become more prosperous when output per worker rises. Since the early 2000s, however, productivity growth has declined in many advanced countries. The slowdown in productivity has been particularly pronounced since the global financial crisis.
> Cool policy: climate change mitigation supporting growth
Climate change must be tackled decisively to avoid future costs, especially to reduce the likelihood of catastrophic changes. Stabilising greenhouse gas concentrations will eventually require a zero net carbon emission economy.
Economic consequences of Brexit
> The Economic Consequences of Brexit: A Taxing Decision
Membership of the European Union has contributed to the economic prosperity of the United Kingdom. Uncertainty about the outcome of the referendum has already started to weaken growth in the United Kingdom.