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Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, show that the loss of momentum is likely to persist in the coming quarters in most major OECD and non-OECD economies.
Quarterly Gross Domestic Product (GDP) growth in the G20 area slowed to 0.6% in the second quarter of 2012 compared with 0.7% in the first quarter. This marks the third consecutive quarter of slowing growth in the G20 area but masks diverging patterns across economies.
Impressive productivity performance during the last decades has weakened since 2007, reflecting the 2008-09 recession but also a poor performance in important sectors, like the information and communication technology sector.
The global economy has slowed, with key European countries entering a recession that is now impacting worldwide, the OECD said in its latest Interim Economic Assessment.Interim Economic Assessment
Annual inflation in the OECD area rose by 1.9% in the year to July 2012, down from 2.0% in the year to June 2012. This easing in the annual rate of inflation mainly reflects slower growth in energy and food prices.
Provisional estimates show that quarter-on-quarter growth in gross domestic product (GDP) in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.5% in the previous quarter.
Composite leading indicators (CLIs) continue to point to an easing of economic activity in most major OECD economies and slowdowns in most major non-OECD economies.
Denmark’s green growth strategy focuses on moving the energy system away from fossil fuels and investing in green technologies, while limiting greenhouse gas (GHG) emissions.
Portugal has started on a long road of economic adjustment to boost growth and reduce debt. A range of structural reforms are needed to restore fiscal sustainability, improve labour market performance and rebalance the economy towards tradables.
More balanced and higher long-term growth calls for strengthened external competitiveness and greater private saving through adjustments in macroeconomic policy and ambitious labour market and educational reforms.