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Thursday, 29th March 2012
What is the economic outlook for OECD countries?
Source: Organisation for Economic Co-operation and Development (OECD)
From Press Release:
Economic growth in the G7 countries is expected to be firmer through the first half of 2012, but the recovery remains fragile and will likely proceed at different speeds in North America and Europe, the OECD said in its latest Interim Economic Assessment.
The Assessment, presented in Paris by Chief Economist Pier Carlo Padoan, says the G7 economies are projected to grow by 1.9 percent in both the first and second quarters of 2012, although a strong variance in outcomes is expected across this group of countries...
In the United States, the ongoing rebound in employment, stronger consumer confidence, higher equity prices and credit growth are underpinning the recovery, with growth projected at 2.9 percent in the first quarter and 2.8 percent in the second. Canada is projected to grow by 2.5 percent during each of the first two quarters.
The optimistic view on North America contrasts with the much more fragile outlook in Europe, where weak consumer confidence, climbing unemployment and tight credit all point to further falls in activity.
The OECD projects that the euro area’s three largest economies - Germany, France and Italy - will shrink by 0.4 percent on average during the first quarter, before a moderate 0.9 percent growth recovery in the second quarter.
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By Adrian Janes
Having begun his career in academic libraries, Adrian Janes is currently an Information Services Librarian with the London Borough of Havering.
In this role, he has particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by Free Pint Ltd. in 2007. He is also involved in training and publicising online reference resources and is a regular contributor to DocuTicker.
Adrian can be reached at adrian.janes@freepint.com
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