Global Economy: Headed in the Wrong Direction

This week, the OECD released its Economic Outlook for November 2015, revising 2016 real GDP growth in the OECD area downward from 2.5% to 2.2%, following its June 2015 report. The OECD noted a collapse in import volumes in emerging markets (especially China), and the sort of slowdown in global trade growth that has historically accompanied recessions. Real fixed investment was again disappointing, and the OECD once more pleaded with countries to take advantage of low interest rates and increase public infrastructure investment, in part to tackle climate change.

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