According to the Economic Outlook published on 24th June, the slowdown in OECD economies is reaching the bottom following the deepest decline for more than 60 years. Recovery is, however, likely to be weak and fragile, and the economic and social damage caused by the crisis will be long-lasting.
The latest edition of the Economic Outlook is the first in two years to see previous projections for economic growth revised upwards – most clearly for the large emerging economies and the United States. Prospects for the euro area this year have worsened since the OECD’s previous projections were published in March.
Further information: Mr. Lauri Taro, Counsellor, tel. +33 1 45 24 71 71
