Losing balance and momentum?

OECD Observer

The outlook for OECD economy has recently become more downbeat. Six months ago, cautious optimism seemed warranted, with enough signs to suggest that the OECD-wide economy was regaining momentum. But these have faded somewhat.

As chief economist Jean-Philippe Cotis puts it, the smooth scenario where the recovery was expected to spread more evenly across the OECD has just not materialised. True, some elements may be in place, such as a relatively successful “soft landing” in the United States and a rebound of activity in Japan.

However, what is badly lacking is sustained momentum in the euro area, where a string of aborted recoveries reflects more than just circumstantial reasons, such as the Iraq war, oil and commodity price shocks, or exchange rate fluctuations.

©OECD Observer July 2005




Economic data

GDP growth: +0.6% Q2 2018 year-on-year
Consumer price inflation: 2.9% Aug 2018 annual
Trade: +2.7% exp, +3.0% imp, Q4 2017
Unemployment: 5.3% Aug 2018
Last update: 10 Oct 2018

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