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The world economy continues to recover but there is still a considerable dispersion in performance across countries and regions. Dynamic economies, led by China and India, are expected to expand at over 7 percent in both 2011 and 2012. In contrast, OECD countries will expand by only 2.3 percent in 2011 and 2.8 percent in 2012.
Economic growth will be subdued this year and next in the United Kingdom, but the government must continue its difficult fiscal consolidation and structural reform programmes to return the economy to a sustainable path, according to the OECD Secretary-General presenting this report in London.
"On behalf of all of us working at the OECD, I would like to transmit our deep sympathy and support in these difficult circumstances. Our thoughts are with the Japanese people, especially those who lost their loved ones." OECD Secretary-General Angel Gurría
Updated continuously. GDP in billions of US$, in volume and at current prices and purchasing power parities. Source: OECD Annual National Accounts Database .
English, , 301kb
Rising energy prices stemming from turbulence across N. Africa and the Middle East will only have a modest impact on GDP and inflation in the near term, according to a new OECD report.
Apparent characteristics of the Hungarian banking market such as large profits and high margins suggest weak competitive pressures. Weak competition in turn, may reduce efficiency in a lack of pressures to converge to marginal cost and to stimulate managerial efforts to reduce X-inefficiency.
- Economic Survey of Hungary 2010
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Global current account imbalances widened markedly in the years preceding the global economic crisis.
The growing burden of healthcare expenditure on public budgets is hardly a recent phenomenon. For 15 years before the onset of the financial crisis, health spending per capita had been going up by over 4% per year in real terms across the OECD area-much faster than growth in real incomes. Nearly all OECD countries will soon have nearuniversal healthcare coverage-an historic achievement. But health now accounts for over 9% of GDP on
After steady employment growth since the 1990s, Spain has experienced the sharpest increase in unemployment among OECD countries during the crisis, amplified by structural problems of the labour market.
- Economic Survey of Spain 2010