OECD Economic Outlook June 2017

> General assessment of the macroeconomic situation 

After many years of weak recovery, with global growth in 2016 at the lowest rate since 2009, some signs of improvement have begun to appear. Trade and manufacturing output growth have picked up from a very low level, helped by firmer domestic demand growth in Asia and Europe, and private sector confidence has strengthened. But policy uncertainty remains high, trust in government has diminished, wage growth is still weak, inequality persists, and imbalances and vulnerabilities remain in financial markets.

> How to make trade work for all

International trade has been a powerful engine of global economic growth and convergence in living standards between countries. Trade liberalisation has contributed to large economic gains of emerging market economies and to poverty decline. Specialisation according to comparative advantage and, increasingly, technology-driven and deeper trade integration through global value chains have created new business opportunities and increased economic efficiency. Access to a wider variety of goods and services at cheaper prices has raised well-being and consumers’ purchasing power.

> Evaluación general de la situación économica

Durante los últimos cinco años, la economía mundial ha estado sumida en una trampa de bajo crecimiento caracterizada por un crecimiento decepcionantemente bajo estancado en torno al 3%. El persistente bajo crecimiento ha lastrado las expectativas futuras de crecimiento, reduciendo así el gasto actual y el crecimiento potencial del producto. La inversión y el comercio mundial han sido débiles, limitando los avances en la productividad laboral y en los salarios necesarios para respaldar un crecimiento sostenible del consumo.

Interim Global Economic Outlook Assessment, March 2017

Global Economic Outlook, November 2016 General assessment of the macroeconomic situation Using the fiscal levers to escape the low-growth trap Developments in individual OECD and selected non-member economies Statistical annex  Interim Global Economic Outlook Assessment, September 2016

Global Economic Outlook, June 2016 General assessment of the macroeconomic situation Promoting productivty and equality: a twin challenge Developments in individual OECD and selected non-member economies Statistical annex  Interim Global Economic Outlook Assessment, February 2016

Global Economic Outlook, November 2015 General assessment of the macroeconomic situation Cool policy: climate change mitigation supporting growth Developments in individual OECD and selected non-member economies Statistical annex  Interim Global Economic Outlook Assessment, September 2015

Global Economic Outlook, June 2015 General assessment of the macroeconomic situation Developments in individual OECD and selected non-member economies Lifting investment for higher sustainable growth Statistical annex  Interim Global Economic Outlook Assessment, March 2015

Global Economic Outlook, November 2014 General assessment of the macroeconomic situation Developments in individual OECD and selected non-member economies Statistical annex  Versions prior to November 2014 can be found here.

>> See also Economic Policy Papers, produced in the context of the work carried out on the two regular titles, OECD Economic Outlook and Going for Growth.