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The global economy will strengthen over the coming two years, but urgent action is still required to further reduce unemployment and address other legacies from the crisis, according to the OECD’s latest Economic Outlook.
Smarter planning for natural and man-made disasters that increases collaboration between countries and encourages households and businesses to take more responsibility would improve resilience and reduce future economic losses, a new OECD report says.
Inequality – now at its highest level in decades in many countries – undermines economic growth and well-being, says a new OECD report. But policies to tackle the widening gap between rich and poor will only succeed if they also look beyond income and address better access to high-quality education, health care and public infrastructure, it adds.
The Netherlands is gradually emerging from a double-dip recession with strengthened public finances and reforms on track to improve the labour and housing markets and the health care and pension systems. These reforms are paying off, says the OECD. Growth is expected to reach 1% this year and 1.3% in 2015.
Composite leading indicators point to weakening growth in most major emerging economies but continued positive growth prospects in OECD countries
Action taken by many European countries to return their public finances to health are beginning to pay off, says the OECD. The Euro area economies which emerged from the crisis with serious current account deficits are now in surplus. Debt-to-GDP ratios are stabilising and market tensions have abated.
Unwinding of stocks slows OECD GDP growth to 0.5% in the fourth quarter of 2013
OECD annual inflation slows to 1.4% in February 2014
Unit labour costs (ULCs) in the OECD area increased marginally (by 0.1%) in the fourth quarter of 2013, following two successive quarters of stability.
The Czech economy is finally coming out of a prolonged recession but must take further steps to speed up income convergence towards the euro area countries, according to the OECD’s latest Economic Survey of the Czech Republic.