The OECD secretariat has updated its forecasts for member countries and extended the forecast period to the 2013 Calendar Year. Happily it is also forecasting GDP growth for some of the major countries that are not members of the OECD.
This Friday’s graph shows the implied cumulative growth in real GDP between 2008 and 2013 for these countries, and for groups of these countries. The purpose is to compare how well the different countries are faring and are expected to fare up to 2013 since the onset of the global financial crisis in 2008.
The graph shows that Australia and New Zealand are doing well compared to the OECD average. Europe is doing very poorly, and Greece is an economic disaster. At the other end of the scale, the growth in China, India and Indonesia is quite phenomenal. Note too that during this period Turkey, Chile, Korea, Brazil, Israel and Poland (in that order) all outscore Australia, which is followed by Mexico and then New Zealand.