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Wed, Sep 15th - 7:01AM

Moderate Expansion Of OECD Econmies

The latest OECD composite leading indicators statistics signify a moderation in the rate of expansion compared to last month. The index for the OECD was down 0.1 in July 2010.

The downturn predicted for Canada, France, Italy, UK, China and India means that the signs suggest a slower rate of economic growth than was anticipated for last month. The outlook for Brazil, US and Japan is that they will possibly peak and their expansion may lose momentum. The German and Russian economies are expected to expand as are the OECD and the Euro areas. The OECD area last peaked in February 2008 and troughed in May 2009 along with the Euro area which last peaked in March 2008.

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Wed, Sep 15th - 6:55AM

OECD Expects Uneven growth

The May OECD Economic Outlook says growth is gradually increasing in the OECD area but at different rates across different regions, especially in emerging-market economies. Risks in global recovery may even greater now. The upturn is in large part due to keeping markets open, pulling the economy out of recession.

The emerging economies are experiencing a re-opening of imbalances. China, however, is an example of strong domestic demand preventing a large external surplus rising to pre-crisis levels. Appropriate policies are still required to address global inequalities. The G20 is given as being potentially important in identifying and implementing a set of policies for more sustained and balanced growth. International collaboration will also be required for progress in financial market reform.

Even though growth has been taking place, unemployment has increased by over 16 million in the OECD area over the last two years but it is less than expected. Employment growth prospects in some European economies and Japan are weak. A jobs recovery could take place with appropriate cost-effective labour market and social policies that support workers in danger of long-term unemployment.

Instability in sovereign debt markets and overheating in emerging market economies are significant risks that may jeopardise the recovery. Monetary policy should be returned to normal as soon as possible and support removed. Exit strategies must take account of fiscal consolidation so as not to put pressure on interest rates. Much of the turbulence has been calmed by the response of euro-area governments and the European Cenral Bank though underlying weaknesses remain and structural adjustments will have to be made.

Euro area architecture will have to be strengthened considerably to get rid of doubts about the viability of monetary union raised by the sovereign debt crisis. Domestic policies should be strengthened for more competitiveness but fiscal discipline is also important. Spending cuts must preserve the cost-effectiveness of programmes helpful to growth. Consolidation strategies must include structural reforms for growth.

Reforms of labour and product markets should be implemented for an increase in output, innovation and to prevent increases in unemployment.

Comment (1)

Wed, Sep 1st - 7:40AM

Natural Resources Information Exchange's First Meeting
The first expert meeting on the sharing of information on natural resources, the Natural Resources Information Exchange (NRIE), took place in Benin in July this year (2010) and attracted representatives from 24 African countries. The African continent is rich in mineral resources. Information sharing can help African governments manage their natural resources efficiently and can help in poverty reduction.
Comment (2)

Wed, Sep 1st - 7:30AM

Expansion Of 2.8% In OECD GDP
GDP growth in the OECD increased by 0.7% in Q2 2010 as it did during the first quarter. Real GDP grew by 1% in the euro area and the EU driven by record growth of 2.2% in Germany. It is the highest rate since reunification. The UK saw growth of 1.1% from 0.3%, France 0.6% from 0.2% and Italy unchanged at 0.4%. Growth slowed in the US and Japan with growth figures of 0.1% and 0.6% respectively from 1.1% and 0.9% in the first quarter. GDP in the OECD area expanded by 2.8% from 2.4% on the previous quarter. The highest rate was in Germany with 3.7% and the lowest was Italy with 1.1%.
Comment (1)

Wed, Sep 1st - 7:21AM

OECD Consumer Inflation Up By 1.6%
Consumer prices in OECD countries increased by 1.6% in the year to July 2010 from 1.5% in June. The increase is mainly due to energy and food prices developments which saw increases of 6.2% and 1.1% respectively. In terms of percentage price increases on the previous month, prices increased by 0.5% in Canada, 0.4% in Italy and 0.3% in Germany but fell by 0.5% in Japan and 0.3% in France and the UK. On the same month in the previous year prices increased by 3.1% in the UK, 1.8% in Canada and 1.7% in France and Italy and fell by 0.9% in Japan. The euro area increased by 1.7% and the EU by 2.1%.
Comment (2)

Wed, Sep 1st - 7:12AM

Call For Natural Resource Trade Co-operation

The World Trade Report from the WTO says natural resources trade is creating many challenges for importing and exporting countries and co-operation by governments is required if they are to be addressed adequately.

The focus of the report is natural resources such as fuels, forestry, mining and fisheries and it examines the trade characteristics of natural resource markets, policy choices and international co-operation for proper management with particular reference to WTO.

Key elements of the report include the distinctive features of natural resource markets, gains from resources trade, externalities, technology effects on sustainability, high volatility, trade policy and trade regulation in natural resources.

The natural resources market total world trade value in 2008 was $3.7 trillion, equivalent to 24% of world merchandise trade. Fuels accounted for 57% in 1998 and 77% in 2008, fish and forestry each accounted for 3% and mining 18%. The top 15 exporters accounted for 52% of world resources trade in 2008 and top 15 importers 71% of traded resources.

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