Global economy improving but risks remain

The recovery in the world economy in the aftermath of the crisis of 2008-09 has been sluggish and uneven.

The OECD estimates the world economy grew by 2.7% in 2013, down from 3.1% in 2012 and 3.7% in 2011. Growth in the OECD region is put at just 1.2% last year, down from 1.6% in 2012 and 1.9% in 2011.

However, this low average rate actually masks a pick-up in growth in advanced economies in 2013. By contrast, there was a slowdown in activity in many emerging economies last year.