Unsettled economic picture

Economic recovery is holding up in the world’s advanced economies, but the outlook is unsettled due to stalling world trade and worsening financial markets particularly in major emerging economies, according to the OECD’s latest briefing on the economic outlook issued 16 September.

Even in the OECD area, US investment has been disappointing, and while the euro area has picked up, it has done so more slowly than expected, despite lower oil prices and a cheaper euro. Japan has shown improvement, but needs a more sustained rise in consumer spending. As for China, the report sees slower economic activity. See here for more.

Meanwhile, trends in the OECD’s leading indicators—these provide a composite view of activity ahead by looking at the likes of factory order books, building permits, long-term interest rates, etc—point downwards for China, the US and the UK, but up for the EU. Visit our website to find more country trends and see dynamic charts here.

One country for which the leading indicators currently point up is Ireland, where the crisis had taken a heavy toll, but which OECD Secretary-General Angel Gurría calls Europe’s “come-back kid”; Irish economic growth is now faster than in any other OECD country, according to the OECD Economic  Survey of Ireland issued this week, 15 September.

©OECD Observer No 303 September 2015

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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