On Monday, everyone was making a big deal about the World Bank’s grim forecast for the economy. Stocks fell that day and pundits tried putting two and two together, but for all we knew, that was the first time the market really put much stock in something the World Bank had to say.
So let’s see if it goes the other way today, as the OECD has come out with a new, 265-page report on the world economy, the gist of which is that we’re “nearing the bottom”, which is kind of good. It’s the first time since the organisation’s June 2007 report that the organisation has brightened its outlook.
You can find the full report, including accompanying materials here.
For your convenience, we’ve embedded the 3-page editorial summary here.