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Economy losing buoyancy
Economic prospects in the US, Europe and Japan have become less buoyant and more uncertain, OECD chief economist Jean-Philippe Cotis said today, Wednesday 5 September. Economic prospects were losing buoyancy, while the risks are becoming more ominous, he said.
Speaking at a press briefing ahead of next November's Economic Outlook, Mr Cotis warned that US growth is likely to be weighed by a weaker housing sector while activity in the euro area and Japan should pick up after the second quarter slowdown. Central banks should avoid bailing out excessive financial risk-taking, he added.
For the interim update with data, please click here. Photo ©OECD.
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