World economy: Stronger policy response needed, says OECD chief economist

Catherine L. Mann launches her first OECD Economic Outlook

OECD Chief Economist Catherine L. Mann © OECD/Marco Illuminati

The world economy remains stuck in low gear, and a "stronger policy response" is needed, particularly to boost demand in the euro area, OECD Chief Economist Catherine L. Mann said today, 25 November.

Presenting the latest OECD Economic Outlook, Ms Mann said that would mean more action by the European Central Bank and more supportive fiscal policy, to provide space for deep structural reforms. "A Europe that is doing poorly is bad news for everyone,” the new OECD chief economist said.

For more detail on the forecast, that sees Europe lifting sluggishly out of the mire, the US stronger but still below pre-crisis speed, and a slowdown in China, read more.

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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