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Composite leading indicators (CLIs) designed to anticipate turning points in economic activity relative to trend, point to a slowdown in most major economies for May 2011.
Austria should seize the opportunity provided by its robust, export-led recovery to strengthen spending reforms and reinforce domestic drivers of economic growth, said Angel Gurría.
Austria should eliminate subsidies which encourage early retirement and target social transfers more effectively, according to the OECD’s latest economic survey.
Real GDP in the OECD area grew by 0.5% in the first quarter of 2011. Although private consumption remained the main driver of growth in the OECD as a whole, its contribution to growth fell in nearly all major economies.
Consumer prices in the OECD area rose by 3.2% in the year to May 2011, compared with 2.9% in April - the highest rate since October 2008.
India’s economy has ranked among the best performers over the past decade, and poverty has been falling faster than in many other emerging economies. India now has the opportunity to move towards sustained and socially inclusive double-digit growth if the right policies are put in place, according to the OECD Secretary-General.
India has the chance to move towards strong, sustained and socially inclusive growth if the right policies are put in place, according to a new OECD report.
Composite leading indicators (CLIs) designed to anticipate turning points in economic activity relative to trend, point to a mild loss of growth momentum in most major economies for April 2011.
The global recovery is becoming self-sustained and more broad-based but is taking place at different speeds across countries and regions. Tackling high unemployment, fiscal consolidation and global imbalances remain the key challenges, says OECD Secretary-General.
Gross domestic product (GDP) in the OECD area continued to grow at a rate of 0.5% in the first quarter of 2011 despite a continued contraction in Japan and slower growth in the United States as growth in most major European economies and Canada accelerated strongly.