GENERAL ASSESSMENT OF THE MACROECONOMIC SITUATION

摘要

Growth rates have become more similar across OECD regions.This is the outcome of the US economy slowing as the housing market corrects,the expansion in Japan continuing and the euro area upswing becoming self-sustained (Table LI).Continued buoyancy in the emerging-market economies,a drop in oil prices from their recent highs and supportive conditions in financial markets should help to sustain the upswing across the OECD area.The US expansion is projected to gradually regain strength as excess supply in the auto and residential construction sectors is worked off.In the euro area domestic demand should maintain its recent momentum while Japan finally and durably exits from deflation as residual slack is being absorbed.