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