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Composite leading indicators point to continued loss of growth momentum in Europe
OECD annual inflation stable at 1.7% in October 2014
Meeting Greece’s Minister of Development and Competitiveness Mr. Kostas Skrekas today, OECD Secretary General Angel Gurría said the Greek government’s reform programme was already showing positive results.
Modest global economic forecasts, continuing high unemployment, and downshifts in potential output,should spur governments with a greater sense of urgency to fully employ monetary, fiscal and structural policy levers to support growth, notably in Europe, according to the OECD’s latest Economic Outlook.
Angel Gurría, Secretary-General of the OECD congratulated the newly elected President of Indonesia, Joko Widodo, for taking a bold first step in his economic reform agenda by substantially cutting fuel subsidies.
The Indian economy is showing signs of a turnaround, but new reforms are needed to put the country on a path to strong, sustainable and inclusive growth, according to the latest OECD Economic Survey of India.
Leaders of the G20 countries meeting at their Summit in Brisbane, Australia, have called on the OECD and IMF to monitor their commitment to boost economic growth and create jobs.
Statement made by the Secretary-General during session 1 of the Leader's Summit in Brisbane.
While the outlook for many OECD countries remains subdued, Emerging Asia is set for healthy growth over the medium term. Annual GDP growth for the ASEAN -10, China and India is forecast to average 6.5% over 2015-19. Growth momentum remains robust in the 10 ASEAN countries, with economic growth averaging 5.6% over 2015-19.
Composite leading indicators point to continued weak growth in Europe and to stable growth in most other major economies