Global growth prospects have clouded this year. A further sharp slowdown in emerging market economies (EMEs) is weighing on global activity and trade, and subdued investment and productivity growth is checking the momentum of the recovery in the advanced economies.
Previous Economic Outlook Release
Economic recovery is progressing in the world’s advanced economies, but stagnating world trade and deteriorating conditions in financial markets are curbing growth prospects in many of the major emerging economies, according to the OECD’s latest Interim Economic Outlook.
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Uncertainty dissuades investment. Although by some measures, economic uncertainty has fallen over the past three years, long-standing uncertainties persist, including how population ageing and climate change will be dealt with.
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Global growth is projected to strengthen in the course of 2015 and 2016, but will remain modest relative to the pre-crisis period and its global distribution will change from that in recent years.
Latin American economic growth is set to recover during the second half of 2015 and gain further speed in 2016, though with notable differences across countries.
This paper compares two competing empirical specifications across all OECD economies, where competing specifications correspond to the 'former' and 'new' specification for deriving measures of the unemployment gap which underlie the OECD’s Economic Outlook projections.
Corrigenda to statistical annex tables, Sources and Methods of the OECD Economic Outlook.
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Statistical Annex tables in Excel format from OECD Economic Outlook. This file includes tables on compensation per employee in the business sector; labour productivity in the business sector; unemployment rates: commonly used definitions; standardised unemployment rates; labour force, employment and unemployment; GDP deflators; private consumption deflators; consumer prices indices; and oil and other primary commodity markets.
The global economy remains stuck in low gear, but is expected to accelerate gradually if countries implement growth-supportive policies. Widening differences across countries and regions are adding to the major risks on the horizon, according to the advanced G20 release of the OECD’s latest Economic Outlook.