OECD Says Economy's On The Mend. Who's Feeling Confident?

Enlarge OECD

The OECD says consumer confidence is still low. The dark blue line is the U.S. (Click to enlarge.)

OECD

The OECD says consumer confidence is still low. The dark blue line is the U.S. (Click to enlarge.)

The economy may get better faster than expected, the Organisation for Economic Cooperation and Development says in a new report.

The OECD now predicts that economic growth will fall by 3.7 percent this year across the wealthy, industrialized nations of the G7. It's still not great news, but it's better than 4.1 percent drop projected in June 2009.

The OECD notes that the credit markets have calmed down, though bank lending continues to decline. The housing markets have also begun to stabilize, the report says, global trade has reached a bottom and export orders on the rise.

Among the charts is the pair you see here, tracking the difference between consumer confidence (above) and business confidence (after the jump). The data come from different pools, so you can't make a one-to-one correlation. Still, I'm interested in the steady rise on the business side — and in what looks like relative optimism.

Enlarge OECD

Business confidence has risen since December. The dark blue line is the U.S. (Click to enlarge.)

OECD

Business confidence has risen since December. The dark blue line is the U.S. (Click to enlarge.)