11 Big Charts That Show What A Mess The Economy Has Suddenly Become

chart

Photo: OECD

The OECD is out with a fresh warning for the global economy, and a call for “urgent action” to address the crisis in Europe.Even if things get “fixed”, the organisation is still lowering its growth outlook.

The Outlook’s baseline scenario assumes that policy-makers take sufficient action to avoid disorderly sovereign defaults, a sharp credit contraction, systemic bank failures and excessive fiscal tightening. It sees GDP across the OECD countries slowing from 1.9% this year to 1.6% in 2012, before recovering to 2.3% in 2013. Unemployment in the OECD area is also projected to remain high for an extended period, with the jobless rate staying at around 8% through the next two years.

Included in the announcement are some fantastic charts that show, well… what a mess things have suddenly become for the economy.

Whether it’s trade volumes, financial stresses, or confidence, things are all turning south all around the world.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.