OECD Economic Outlook: Better, But Not Good Enough

Key messagesGlobal growth expected to pick-up modestly with upside risksConfidence is increasing and investment and trade are picking up from low levelsGrowth is broad based; recovery in commodity producers helps the modest global upturnSigns of rising demand for high-tech goods and investment to upgrade capitalProductivity and wage growth remain subdued; financial stability risks persistHeadline employment indicators are improving but labour markets have not recoveredFinancial risks from high and rising credit growth, house price increases, interest rate gapsMore needs to be done to share the gains from structural trends and tradeChanges to technology, consumer preferences and trade are occurring simultaneouslyJob losses from shifts in activity are concentrated in manufacturing and specific regionsAn integrated policy approach is needed to make globalisation work for allA more level playing field for the international systemDomestic reforms to boost competition, job creation, skills and innovationTargeted policies to help people who are left behind seize new opportunitie