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Recovery ? What Recovery ? TUAC Analysis of the OECD Interim Economic Report 13 April 2023

14 April 2023

The OECD recently published its interim report on the economic outlook, expecting economic growth to gradually recover from the negative shocks suffered over the last yearA closer analysis of the interim report  by TUAC reveals that, two years after the pandemic, OECD economies are still failing in getting economic activity back to the level where it would have been had economic expansion continued on its pre-pandemic. The TUAC  analysis also points to unprecedented monetary policy tightening explaining why the recovery is so weak and why financial stability is increasingly at risk. Finally, TUAC regrets that the OECD , instead of putting a stronger emphasis on these risks to the recovery, supports central banks in their drive to squeeze more demand and jobs out of the economy by calling for interest rate increases to continue.