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Chapter 1
OECD economic Outlook, Volume 2016 Issue 1 OECD 201611 Chapter 1 GENERAL ASSESSMENTOF THE MACROECONOMIC SITUATION1. GENERAL ASSESSMENT OF THE MACROECONOMIC SITUATIONOECD economic OUTLOOK, VOLUME 2016 ISSUE 1 OECD 2016 PRELIMINARY VERSION12 IntroductionEight years after the financial crisis, the recovery remains disappointingly GDP growth is projected to be 3% in 2016, unchanged from last year, with only amodest improvement foreseen in 2017. Global trade growth also remains very emerging market economies (EMEs) have lost momentum, with sharp downturns insome, especially commodity producers. The upturn in the advanced economies remainsmodest, with growth held back by slow wage gains and subdued investment. Lowcommodity prices and accommodative monetary policies continue to offer support inmany economies, albeit punctuated by periods of tightened and volatile financialconditions, especially early in the year.
OECD Economic Outlook,Volume 2016 Issue 1 © OECD 2016 11 Chapter 1 GENERAL ASSESSMENT OF THE MACROECONOMIC SITUATION
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