OECD

World economy 3rd May 2024

OECD revises 2024 growth forecast upwards by 2/10 pp to +3.1%: activity remains resilient

Renta 4: European stock markets open flat on a day that will be dominated by the official US employment report (14:30h), where moderation is expected (in line with Wednesday’s ADP private employment survey and JOLTS job openings), but showing a still solid labour market and tightening in wages (yesterday 1Q24 unit labour costs +4.7% year-on-year vs +4% estimated). Consensus expects 240,000 estimated non-farm payrolls versus 303,000 estimated previously, unemployment rate…

In Spain 30th November 2023

OECD lowers 2024 growth forecast for Spain to 1.4% and calls for greater fiscal adjustment

The OECD has revised down to 1.4% its economic growth forecast for Spain in 2024, a figure well below the 2% expected by the government. In its half-yearly Outlook report published on Wednesday, the Organisation for Economic Co-operation and Development (OECD) sends a clear message to Pedro Sánchez’s new government: further budgetary adjustment is needed to keep public debt under control. The report stresses that “stronger and sustained fiscal consolidation…

In the World 15th November 2023

OECD countries’ unemployment remains at record low 4.8% in September, Spain highest at 12%

The unemployment rate in the countries of the Organisation for Economic Co-operation and Development (OECD) stood at 4.8% in September, remaining unchanged at the lowest level in the historical series, which began in 2001, as reported on Tuesday by the organisation, which also points to Spain as the member country with the highest unemployment rate, at 12%. In the ninth month of the year, the unemployment rate remained unchanged in…

In Spain 21st September 2023

Bank of Spain and OECD forecasts for Spain in 2023 coincide in growth of 2.3%

Banca March : The forecasts of the Bank of Spain and the OECD, the bitter and the sweet. Regarding economic growth, the Bank of Spain forecasts values for this year identical to those estimated in the last projection, namely 2.3%. However, expectations for the variation in GDP for the coming years fall (1.8% compared with 2.2% in 2024 and 2% compared with 2.1% in 2025). In the case of the…

Spanish economy 8th June 2023

OECD raises economic forecasts for Spain: 2.1% in 2023, 1.9% in 2024

BancaMarch: The Paris-based organisation expects Spain to grow by 2.1% in 2023, improving its forecast for the country by up to four tenths of a percentage point compared to the previous report and in line with the government’s expectations. Looking ahead to 2024, the OECD also raises its forecasts, from 1.7% to 1.9%, although here it is below the executive’s forecast (+2.4%). With these forecasts, Spain will be the large…

Spanish economy 1st June 2021

In The OECD, Only Iceland And Mexico Will Take Longer Than Spain (Three And A Half Years) To Recover From The Crisis

According to the Organisation for Economic Co-operation and Development (OECD), Spain’s Gross Domestic Product (GDP) will grow by 5.9% in 2021 (5.7%; previous estimate), and by 6.3% in 2022 (4.8%; previous estimate). Thus, it will take three and a half years for Spain to recover its pre-crisis level of GDP per capita. Only Iceland and Mexico, of the 38 OECD member states, will take longer to recover it.

Spanish economy 16th December 2020

Spain Is Promoting A Safe International Mobility Plan Against Covid-19 Within The OECD

Spain, which has held the rotating presidency of the Ministerial Meeting of the OECD Council during 2020, had raised the need for the organization to work on a reference framework for safe international mobility. As part of the celebration of the 60th anniversary of the Organization, Spanish PM Pedro Sanchez has presented an initiative for the development and coordination of a harmonised system in all countries to open borders safely for economic recovery after the crisis caused by the Covid-19 pandemic.

World economy 11th June 2020

The Fed And The OECD Have Doubts About The V-Shaped Recovery Discounted By The Markets

Santander Corporate & Investment | The Fed does not expect the economy to fully recover until 2022 and expects GDP to fall by 6.5% and unemployment of 9.3% in 2020. The OECD also distances itself from V-shaped scenarios and warns of the worst peacetime recession in 100 years. In scenarios without second waves of Covid-19, the OECD anticipates a global contraction of 11.5% in H1’20 and neither does it expect world GDP to approach the pre-coronavirus level by end-2021.

Spanish economy 19th February 2020

Madrid Caves In To US Pressure By Freezing The Google Tax

J.P. Marín- Arrese | The Spanish government has tabled a proposal for a Google tax but will refrain from applying it till the year-end. They boasted not so long ago that nothing could deter it from taxing the tech companies. When confronted with the task of delivering its promise, courage seems to falter even if Washington has issued no explicit warning. Presumably, the French discomfiture conveyed a stern lesson of what happens to anyone defying the US.

OCDE scenario ,particularly negative, has not been discounted by equities

World economy 7th March 2019

OCDE Scenario Particularly Negative And, If Fulfilled, Has Not Been Discounted By Equities

The Organisation for Economic Cooperation and Development (OECD) has again downgraded global economic growth for 2019 to 3.3%. However, the most striking point was the strong downgrade of Eurozone GDP growth, which it now forecasts at only 1% when only a few months ago it was expecting 1.8%. Germany and Italy are the countries that emerge worse from this severe downgrade of growth.

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