Tag: Organisation for Economic Co-operation and Development

OECD says UK falling back into recession

OECD says UK falling back into recession

The UK economy is expected to contract by 0.4 per cent on an annualised basis in the first three months of 2012, according to the Organisation for Economic Co-operation and Development (OECD). This represents a contraction of 0.1 per cent compared with the final quarter of 2011 and means that the UK is returning to […]

March 29, 2012 More
ILO: Global economy on brink of jobs recession

ILO: Global economy on brink of jobs recession

The International Labour Organization (ILO) has warned that the world economy is heading towards a new jobs recession, which could trigger social unrest in some countries. The recent slowdown in the global economy is a�?dramaticallya�? affecting labour markets and it is expected to take at least five years for employment in developed economies to return […]

October 31, 2011 More
UKa��s slow rate of growth could force easing of cuts

UKa��s slow rate of growth could force easing of cuts

The OECDa��s chief economist, Pier Carlo Padoan, has warned that the UK may be forced to ease its pace of spending cuts if economic growth remains sluggish. Mr Padoan of the Organisation for Economic Co-operation and Development said if growth worsens, the Government may need to reconsider its plans for cutting the deficit. In the […]

May 26, 2011 More
OECD cuts UK growth estimates

OECD cuts UK growth estimates

Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has cut its forecast for UK economic growth. The Organisation estimated growth this year of 1.5%, down from its November prediction of 1.7%. The reduction was attributed to Government spending cuts, which will hamper growth. However, the OECD described the cuts as “ambitious and […]

March 16, 2011 More
Unemployment in OECD countries holds steady at 8.6%

Unemployment in OECD countries holds steady at 8.6%

Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has today reported the number of unemployed in the 33-member OECD countries stood at 45.8 million in November. The figure was down 0.3 million from November 2009 but almost 16 million higher than in November 2007. The unemployment rate held steady at 8.6% in […]

January 11, 2011 More
OECD forecasts growth for Spain next year

OECD forecasts growth for Spain next year

Spain has featured heavily in the news recently after speculation mounts that the country will need to seek an emergency bailout from the EU. However, the countrya��s Government continues to deny the claims. Earlier this month, Spaina��s finance minister, Elena Salgado, said: a�?Our fiscal adjustment is on tracka�� we have done all the things that […]

December 20, 2010 More
OECD cuts UK economic growth

OECD cuts UK economic growth

Influential think tank, the Organisation for Economic Co-operation and Development (OECD) has today revised its growth for the UK economy, as a result of the Coalition Governmenta��s austerity measures, designed to bring down the budget deficit. However, the revision comes as no surprise as experts have been predicting that the harsh spending cuts will undoubtedly […]

November 18, 2010 More
Unemployment in OECD countries hits 45.5m

Unemployment in OECD countries hits 45.5m

Influential think tank, the Organisation for Economic Co-operation and Development (OECD) has today said the number of unemployed in the 33-member OECD countries hit 45.5 million in August. The Paris-based organisation said the jobless rate in August for the area was 8.5%, falling from 8.6% in July. A statement from the Organisation noted that the […]

October 12, 2010 More
US housing starts jump, building permits up

US housing starts jump, building permits up

There was some good news from the US housing market today after the Commerce Department revealed housing starts jumped in August to a four-month high. According to the Commerce Department, construction of new US homes rose 10.5% last month to a seasonally adjusted annual rate of 598,000 units – beating analysts expectations of 550,000. In […]

September 21, 2010 More
Double-dip recession unlikely, says OECD

Double-dip recession unlikely, says OECD

Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has today said the global economic recovery is slowing faster and has therefore revised its growth forecast downwards for the G7 leading economies. However, the think tank has said a return to recession is unlikely but “great uncertainty” remains. It has therefore slightly revised […]

September 9, 2010 More
Think tank concerned for unemployment in rich economies

Think tank concerned for unemployment in rich economies

Economic think tank, the Organisation for Economic Co-operation and Development (OECD), has today said unemployment remains a concern in rich economies. In particular, the OECD has expressed concern for the UK economy, after the Government axed investment for job programmes. It believes the unemployment rate will hover around the 8% mark for at least the […]

July 7, 2010 More
OECD raises global growth forecasts

OECD raises global growth forecasts

Influential think-tank, the Organisation for Economic Co-operation and Development (OECD), has raised its worldwide growth forecasts in its twice-yearly report. The Paris-based Organisation said the global economy is recovering faster than expected with Asia continuing to drive the expansion. However, debt crises in many countries may threaten expansion in the developed world, the OECD warned. […]

NIESR: UK to see positive growth in Q1

NIESR: UK to see positive growth in Q1

Influential think tank, the National Institute of Economic and Social Research (NIESR), said the UK economy avoided a double-dip recession in the first quarter of 2010 and is expected to see growth of 0.4%. However, official figures for quarter one GDP will not be published until April 23 but it appears many are optimistic for […]

BoE keeps interest rates and QE on hold

BoE keeps interest rates and QE on hold

The Bank of Englanda��s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 13th consecutive month. In addition, it has opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to stimulate growth […]

BoE expected to keep interest rates and QE on hold

BoE expected to keep interest rates and QE on hold

The Bank of Englanda��s Monetary Policy Committee (MPC) is today expected to keep UK interest rates on hold at the historically low level of 0.5% for the 13th consecutive month. In addition, the Bank is expected not to inject any more money into the economy through its quantitative easing (QE) scheme. In February, the Bank […]

UK economy to surge ahead in Q2

UK economy to surge ahead in Q2

The Organisation for Economic Co-operation and Development (OECD) has today said the UK economy will outperform its G7 rivals in the second quarter of 2010. The forecast comes despite the UK economy lagging behind other major economies and being one of the last to emerge from recession – in the fourth quarter of 2009. However, […]

OECD warns Governments about spiralling debt

OECD warns Governments about spiralling debt

The Organisation for Economic Co-operation and Development (OECD) today warned Governments in its member countries to take action to trim their budget deficits. The OECD, which includes 30 territories such as the US, Australia, Japan, Canada, New Zealand and European countries, is forecasting that debt would exceed 100% of GDP in 2011 across its member […]

All OECD economies see growth in Q3

All OECD economies see growth in Q3

The economies of the 30 members of the Organisation for Economic Co-operation and Development (OECD) posted growth of 0.8% in third quarter – the first time economic output among the OECD economies grew since the January to March period last year. OECD members account for 61.3% of global Gross Domestic Product (GDP). The Organisation has […]

OECD: Recovery and growth in 2010 in all world economies

OECD: Recovery and growth in 2010 in all world economies

Following the worst recession for decades across the worlda��s major economies, the Organisation for Economic Co-operation and Development (OECD) is expecting growth and recovery in 2010. In its annual Economic Outlook, the Organisation upgraded its growth forecasts for next year, with world economic output contracting by 1.7% this year and rising by 3.4% in 2010. […]

OECD: Recovery clearly visible in major economies

OECD: Recovery clearly visible in major economies

The Organisation for Economic Co-operation and Development (OECD) has provided a positive outlook for major economies saying “a recovery is clearly visible in the US, Japan and all other OECD economies and major non-OECD economies.” The report will give a boost to the UK which did not emerge from recession in the third quarter as […]