A moderate recovery is underway in the major advanced economies, according to the OECD’s latest Interim Economic Assessment. Growth is proceeding at encouraging rates in North America, Japan and the UK. The euro area as a whole is out of recession, although output remains weak in a number of countries.
The OECD welcomes Chile’s plan to improve the way it calculates the Consumer Price Index (CPI). The plan focuses primarily on proposals by the Chilean Statistical Office (INE) to better capture price changes for clothes and footwear, to ensure that the CPI accurately reflects inflation.
Austria has achieved high levels of economic growth and well-being, but must address serious demographic, environmental and globalisation challenges if future generations are to share the same prosperity, according to the OECD’s latest Economic Survey of Austria.
Well-functioning judicial systems play a crucial role in determining economic performance – notably by guaranteeing the security of property rights and the enforcement of contracts – but not all countries’ judiciaries operate at the same level of efficiency.
The global economy is moving forward, but divergence between countries and regions reflects the uneven progress made toward recovery from the economic crisis, according to the OECD’s latest Economic Outlook. Historically high unemployment remains the most serious challenge facing governments.
Technological advances, less costly shipping and trade liberalisation have transformed the way in which companies make products and distribute them worldwide. Governments that become more open to trade and investment, and encourage innovation will help firms better integrate the global value chains that are driving growth in increasingly interconnected economies, according to new OECD research.
Italy has made considerable progress in strengthening its public finances and adopting wide-ranging reforms to boost economic growth. The new government must build on past achievements and ensure that they are sustained and reinforced, says a new OECD report.
Japan is poised for an economic expansion, but long-term growth prospects remain contingent on additional efforts to revitalise the economy and reduce unsustainable levels of public debt, according to the OECD’s latest Economic Survey of Japan.
Global economic activity is picking up, but the continuing crisis in the euro area is delaying a meaningful recovery, the OECD said in its latest Interim Economic Assessment.
China has made tremendous progress toward achieving inclusive growth, but major reforms are needed to ensure a fourth decade of rapidly converging living standards and a greener economy, according to the OECD’s latest Economic Survey of China.