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The Czech economy is finally coming out of a prolonged recession but must take further steps to speed up income convergence towards the euro area countries, according to the OECD’s latest Economic Survey of the Czech Republic.
Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.8% in the fourth quarter of 2013, down from 0.9% in the previous quarter, according to preliminary estimates.
Poland’s overall economic performance has been impressive over the last decade. Yet, important challenges remain ahead. Making the labour market work better and strengthening product market competition would boost economic prospects.
Recovery is under way in the world’s advanced economies, underpinned by supportive financial conditions and reduced drag from budgetary tightening, but activity in the major emerging markets is mixed, according to the OECD’s latest Interim Economic Assessment.
This note discusses OECD forecast performance over the period 2007 12. It focuses on the lessons that can be learned from cross-country differences in growth forecast errors and the changes to forecasting models and procedures that have been prompted by the experience of the crisis.
Poland’s economic performance has been impressive over the past 15 years, but further reforms are now needed to put the economy firmly back on track for stronger and sustainable growth, according to the OECD’s latest Economic Survey of Poland.
A broad agenda of reforms in four areas – labour markets, education, product markets and innovation – should strengthen Poland’s economy and allow it to continue its path of convergence towards the income levels of the more affluent OECD economies, said Angel Gurría during a seminar in Warsaw.
Economic policy can achieve results only if policy makers – and the voters to whom they are accountable – know what is happening to the economy. Understanding the economy as a whole depends on the available statistics. So economic statistics shape policy and events, and the most closely watched measure is the growth of gross domestic product (GDP).
The Norwegian economy is performing well, generating inclusive growth, strong social mobility and low unemployment. But to ensure future prosperity, Norway must continue with growth-enhancing reforms while ensuring financial stability, according to the OECD’s latest Economic Survey of Norway.
Norway’s economy has continued to prosper, but the financial system needs to be resilient against possible systemic risk, and a vibrant entrepreneurial culture will be important to maintain sustainable growth in the future.