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Economy

US Recovery Expected To Outpace Europe

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By Douglas A. McIntyre Updated Published
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The OECD expects the economic recovery in the US to be significantly better than in Europe. In its new Economic Outlook survey the agency says US gross domestic product (GDP) is expected to grow by 2.5% in 2010 and a further 2.8% in 2011. But, “The Euro area economy is projected to grow next year by 0.9% and by 1.7% in 2011.”

China, as might be expected, will pace the improvement in the global economy.

The group’s comments on unemployment were discouraging. Jorgen Elmeskov, acting Chief Economist of the OECD said “Radical policy action will be required in the years to come to restore sound macroeconomic balance, healthy growth and low unemployment, “said Mr Elmeskov. “Only when that has happened will the crisis have been fully overcome.”

The OECD joins the legions of experts who identify employment as the most critical element of a recovery. Unfortunately no one has provided a good solution to the problem.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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