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Annual inflation in the OECD area slowed to 2.1% in the year to May 2012, compared with 2.5% in the year to April 2012 – the lowest rate since January 2011.
Quarterly Gross Domestic Product (GDP) in the G20 area grew 0.8% in the first quarter of 2012 compared with 0.7% in the fourth quarter of 2011, according to preliminary estimates. This small pick-up in aggregate G20 GDP growth still masks diverging patterns among the world's largest economies however.
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend continue to point to divergence between economies.
Start-up rates in most countries are edging back toward their pre-crisis levels, but not all countries have seen significant acceleration in new businesses, according to a new OECD report.
Merchandise trade grew moderately in most major economies in the first quarter of 2012. Total imports and exports of G7 and BRICS grew by 1.0% and 0.6% respectively.
Annual inflation in the OECD area slowed to 2.5% in the year to April 2012, compared with 2.7% in the year to March 2012.