Pick-up in private consumption and investment drives higher OECD GDP growth in second quarter of 2017

Unemployment is still above 8% in Latvia and contributes to poverty, in part because many unemployed have been without a job for an extended period of time.

New Zealand ranks highly on most indicators of well-being, but incomes are below the OECD average due to low labour productivity.

While the Slovenian economy has been successful in bounding forward, it has taken hard falls in the past, and a lack of resilience means it has taken a long time to recover.

Ahead of the referendum on Brexit, the OECD was anticipating a significant decrease in economic growth if the decision to leave the EU were taken (Kierzenkowski et al., 2016). As the UK economy has started to slow down, OECD projections remain remarkably valid so far.

The database contains indicators capturing structural policies (including institutions, framework condition policies and policies specifically related to labour markets and drivers of productivity and investment such as trade, skills and innovation).

OECD sees global economy strengthening, but says further policy action needed to catalyse the private sector for stronger and more inclusive growth

This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and non-OECD countries.

Business dynamism and sound management of natural resources wealth has helped propel Norway among the highest levels of GDP per capita in the world. Combined with its “Nordic model” ensuring inclusiveness and low inequality, Norway exhibits impressive levels of well-being in many dimensions.

In its latest Economic Survey for Norway , the OECD underscores the importance of policy facilitating transition away from oil-related activities and helping businesses seize opportunities from digitalisation and globalisation, through providing i) macroeconomic and financial stability, and ii) improvements to structural-policy settings.

Thanks to a highly developed welfare state, poverty is moderate on average in France, but – as in other countries – highly concentrated in some neighbourhoods.

Vacancy for Economist, OECD Economics Department

Vacancy for Senior Economist, OECD Economics Department

OECD household income growth continues to lag GDP growth, slowing to 0.2% in third quarter of 2017

OECD household income growth picks up to 0.3% in fourth quarter of 2017 but continues to lag GDP growth

Norway’s success in maintaining high living standards, low inequality and good progress in gender balance owes much to its business sector.

Las perspectivas de crecimiento favorable ofrecen a Chile una oportunidad para abordar sus bajos niveles de productividad comparados con los de otras economías desarrolladas, mejorar el acceso al empleo de calidad, y tomar medidas para reducir su desigualdad persistentemente alta, según un nuevo informe de la OCDE.

Finland enjoys a high level of income and well-being. Nevertheless, output has been dragged down by the global downturn, the decline of the electronics and paper industries and the Russian recession.

Growth is projected to reach 1.5% in 2018 after many years below one percent or negative in per capita terms. Low growth and high unemployment have adversely affected the well-being of South Africans. Since 2010, inequality, measured by the Gini coefficient at 0.62, has almost stagnated withering the social contract in a context of policy mistrust.

The Irish economy is recovering robustly. Business investment by local firms has picked up, household consumption is reviving while the boost to jobs and a rapidly declining unemployment rate have led to strong wage growth in a number of sectors, says a new OECD report.

The Israeli economy continues to register remarkable performance, with strong growth, low and falling unemployment and sound public finances leading to the 15th consecutive year of economic expansion. Further reforms will be needed to drive down inequality and raise living standards for all Israelis, according to a new report from the OECD.

Israel’s economy continues to register remarkable macroeconomic and fiscal performance. Growth is strong and unemployment low and falling. With low interest rates and price stability, financial policy is prudent, and public debt is comparatively low and declining.

The global economic expansion is strengthening, as robust investment growth, an associated rebound in trade and higher employment drive an increasingly broad-based recovery, according to the OECD’s latest Interim Economic Outlook.

Poland’s economic growth remains strong. Rising family benefits and a booming jobs market are lifting household income while poverty rates and inequality are falling, says a new OECD report.

The Polish economy is in a strong position. Economic growth reached 4.6% on average in 2017 and the OECD expects it to continue at around 4% over 2018/19.

Tunisia is firmly committed to a process of democratisation that needs underpinning by economic reforms in order to guarantee an improved standard of living for all Tunisians.

From a feudal trading hub connecting South with East Asia in the 18th and 19th centuries, Thailand has developed into a rapidly modernising and more urban economy. The second half of the 20th century saw the rapid expansion in manufacturing and services, which underpinned its transformation into an upper-middle-income country.

Greece’s recovery from deep economic depression is finally gaining traction, according to the OECD. Economic growth has started to pick up led by a rise in exports while labour market reforms have improved competitiveness and are helping to create jobs.

Greece is finally recovering from a deep depression. In 2017 GDP expanded by 1.3%, according to initial estimates, and is projected to accelerate to 2% in 2018 and 2.3% in 2019.

OECD appoints Laurence Boone as new Chief Economist

The U.S. economy is experiencing one of the longest expansions on record, but the scars left by the Great Recession, as well as challenges posed by globalization and automation shocks, remain visible across the country, according to a new report from the OECD.

The Netherlands is experiencing vibrant economic activity, with gross domestic product (GDP) at about 8% above its pre-crisis peak and the unemployment rate below 4%. Growth picked up to above 3% in 2017, which was well above the euro area and OECD averages.

Lithuania’s economy has grown faster than most other OECD economies over the past 10 years, unemployment continues to fall and public finances have stabilised after a long period of deficits and rising debt.

Policy choices made today can have important positive effects on future living standards, according to new long-term economic scenarios released by the OECD.

Structural Policy Indicators Database for Economic Research (SPIDER)

The Czech economy is thriving, with robust employment, expanding exports and falling government debt. Efforts should now focus on boosting workforce skills and innovation to improve labour supply and productivity, further reduce poverty and inequality, and green the economy, according to two new OECD reports.

Growth, driven by both internal and external demand, has been accelerating since 2013 and at 4.6% in 2017 it was more balanced than in previous years. Household consumption is supported by income growth, a declining savings rate as confidence is high, and by rising credit.

OECD household income up 0.7% in first quarter of 2018, outpacing GDP growth

OECD GDP growth picks up marginally in second quarter of 2018

Economic research has established that a large part of income disparities between poor and rich countries can be attributed to differences in governance and in the quantity and quality of human capital.

G20 GDP growth nudges up to 1.0% in the second quarter of 2018

A steady economic expansion in Indonesia is boosting living standards, curbing poverty and offering millions of people greater access to public services.

OECD household income growth slows to 0.3%, lagging behind GDP growth in second quarter of 2018

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF - Development Bank of Latin America.

Brazil has moved up the ranks of the world’s largest economies while making economic growth ever more inclusive.

Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.

Brazil has made remarkable social and economic progress in the past two decades, but must now overcome important challenges if it is to put its economy on a stronger, fairer, greener growth trajectory, according to two new reports from the OECD.

Latin America and the Caribbean’s (LAC) GDP will shrink by between 0.9% and 1% in 2016, according to the latest estimates, the second consecutive year of negative growth and a rate of contraction the region has not seen since the early 1980s. According to the Latin American Economic Outlook 2017, the region should recover in 2017, but with modest GDP growth of between 1.5% and 2%, below expected growth in advanced economies.

Korea has weathered the shocks triggered by the global recession and its economy is recovering more quickly and vigorously than most other OECD countries.