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Unemployment rate rises in eurozone, eases in US: OECD

Agence France-PresseJune 11, 2013 13:33
A total of 48.5 million people were unemployed in advanced countries in April, an increase of 200,000 from the March level, the OECD said on Tuesday. This worked out at a steady unemployment rate of 8.0 percent, but in the eurozone the rate rose by 0.1 percentage points to a record 12.2 percent. In the United States, by contrast, the rate fell by 0.1 points to 7.5 percent, the harmonised OECD data showed.

OECD drive against tax avoidance gets fresh backing

May 30, 2013 18:30
By Leigh Thomas PARIS (Reuters) - The days when multinational companies could exploit fiscal loopholes to escape tax could soon be numbered, after governments gave the OECD strong backing to design an international clampdown on corporate tax avoidance. Ministers from Organisation for Economic Cooperation and Development and other countries backed OECD efforts on Thursday to press ahead with new guidelines to ensure firms are not able to pay little or no tax due to differences between tax regimes.

Mexico's economy will grow at faster clip in 2014, OECD says

Agencia EFEMay 29, 2013 15:20
Paris, May 29 (EFE).- Mexico's economy, which will experience slower growth in the first half of 2013 due to headwinds from the United States, will have a stronger performance next year, the Organization for Economic Cooperation and Development, or OECD, said Wednesday. The new government's structural reforms in the areas of telecommunications, energy and budgeting will improve long-term growth prospects, the OECD said.

Growth to pick up but money must stay easy

Agence France-PresseMay 29, 2013 12:45
Growth in the world's advanced economies should pick up later this year but central banks need to keep monetary policy accommodative to ensure the recovery remains on track, the OECD said Wednesday. Nevertheless the Organisation for Economic Cooperation and Development in its latest semi-annual Economic Outlook report cut its growth forecasts for most countries, with the notable exception of Japan which has launched a major stimulus programme.

OECD reduces estimates for Canadian economy, says growth will lag United States

The Canadian PressMay 29, 2013 12:35
OTTAWA - The OECD has reduced its estimates for Canadian economic growth this year and next. The Organization for Economic Co-operation and Development currently expects a 1.4 per cent advance this year for Canada — down four-tenths of a point from its November estimate of 1.8 per cent. The multinational forecasting group has also reduced its estimate for Canada's economic growth in 2014, now expected at 2.3 per cent — one-tenth of a point below the previous estimate of 2.4 per cent.

OECD cuts 2013 growth outlook for S. Korea to 2.6 pct

Yonhap News AgencyMay 29, 2013 12:16
SEJONG, May 29 (Yonhap) -- South Korea's economy is expected to grow 2.6 percent this year, an international organization forecast Wednesday, revising down its outlook amid the prolonged uncertainties at home and abroad. The growth estimate by the Organization for Economic Cooperation and Development (OECD) is lower than 3.1 percent predicted in November last year. It is the same as the Seoul government's extra budget-reflected growth outlook. The OECD also cut its growth estimate for South Korea next year from 4.4 percent to 4 percent.

Global economies on the mend, OECD says

Agence France-PresseMay 14, 2013 14:16
Global economies are on the mend, but growth is likely to remain below trend in India, the OECD said on Tuesday. Looking at major global economies, an OECD statement said that "growth is returning to trend" in China, while in the United States the OECD's composite leading indicator (CLI) "continues to point to economic growth firming." In the 17-nation eurozone, the CLI indicated "a gain in momentum," although no detailed growth forecasts were issued.

OECD warns Italy to cut its heavy debt

Agence France-PresseMay 2, 2013 05:30
Italy has taken important steps to correct its public finances but the country's new government must pursue reforms and cut its heavy debt, the OECD said Thursday as new Prime Minister Enrico Letta met with European leaders in Brussels. The assessment by the Organisation for Economic Cooperation and Development came as Letta seeks allies across Europe for a stronger focus on growth and less pressure on fiscal discipline.

Slovenia may have misread bank clean-up cost - OECD

April 9, 2013 10:01
By Michael Winfrey LJUBLJANA (Reuters) - Slovenia, trying to avoid becoming the euro zone's next bailout victim, may have "significantly" misread the cost of fixing its troubled banks, the OECD said on Tuesday. Following last month's messy rescue of Cyprus, the country of 2 million perched on Italy's northeast border is seeking funds to heal its state-owned financial sector. But Slovenia is not in immediate need of rescue, said Yves Leterme, deputy secretary general for the OECD.

Slovenia may have misread bank clean-up cost - OECD

April 9, 2013 07:02
By Michael Winfrey LJUBLJANA (Reuters) - Slovenia, trying to avoid becoming the euro zone's next bailout victim, may have "significantly" misread the cost of fixing its troubled banks, the OECD said on Tuesday. Following last month's messy rescue of Cyprus, the country of 2 million perched on Italy's northeast border is seeking funds to heal its state-owned financial sector. But Slovenia is not in immediate need of rescue, said Yves Leterme, deputy secretary general for the OECD.
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