OECD : Urgent Decisive Policies Needed

“Prospects only improve if decisive action is taken quickly” Chief Economist Pier Carlo Padoan.

OECD’s latest Economic Outlook  into 2012 and beyond. 

Most of the growth is projected to come from developing countries.

US GDP is projected to rise by 2.0% in 2012 and by a further 2.5% in 2013, after an expected expansion of 1.7% this year. Euro area growth is forecast to slow down from 1.6% this year to 0.2% next year, before picking up to 1.4% in 2013. In Japan, GDP is expected to expand by 2% in 2012 and 1.6% in 2013, following a contraction of 0.3% in 2011, which reflects the impact of the earthquake and tsunami and subsequent reconstruction activity.

Chinese economic growth is seen easing to 8.5% in 2012, from 9.3% this year, before climbing back to 9.5% in 2013. Weaker activity in China and other emerging-market economies together with modest falls in commodity prices should put inflation in these countries on a downward trend, allowing some easing of monetary policy.

The preliminary statistical data is here

OECD Economic Outlook 90, visit:www.oecd.org/oecdeconomicoutlook