The OECD countries are expected to show a ‘moderate recovery’, but this will not be sufficient to compensate increasing joblessness until the end of 2010 or at the start of 2011.

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The Organization for Economic Co-operation and Development (OECD) countries are expected to show a ‘moderate recovery’ following the worst worldwide recession in decades. However, the improvement won’t be able to compensate increasing joblessness until the end of 2010 or at the start of 2011, according to the OECD’s semi-annual economic forecast.
Moderate recovery
The international organization of 30 countries forecasts its 30 member nations to show an economic growth of 1.9% in 2010 as this will increase to 2.5% in 2011. Output is expected to decrease by 3.5% this year. These developments are expected to have quite an influence on Forex and other financial markets.
In June, the think tank had estimated a growth of 0.7% for 2010, while it forecasted a shrink of 4.1% for 2009.
Stronger growth than previously forecasted is the result of extensive economic and fiscal measures, a sharp growth of non-OECD economies (mainly the Chinese economy) and interventions in the financial markets.
US GDP
The Organization for Economic Co-operation and Development estimates that the US gross domestic product will contract by 2.5% this year, as it will grow by 2.5% next year and by 2.8% in 2011. The OECD expected in June a 2.8% decline for 2009 and a 0.9% growth for next year.
Japanese economy
Japan’s economy is set to shrink by 5.3% in 2009, while previously a 6.8% contraction was estimated. In 2010, the Japanese economy is forecast to expand by 1.8%, as it is expected to grow by 2% in 2011. Earlier the OECD estimated a 0.7% expansion for next year. These indicators will probably positively influence the Yen, which is interesting info for Forex traders.
Euro zone
The 16-nation euro area is expected to contract by 4% in 2010, while earlier estimations pointed to a 4.8% decline. Next year, the euro zone is forecast to grow by 0.9%, as the OECD earlier estimated a flat economic growth. The OECD forecasts an economic expansion of 1.7% for 2011.