OECD Economic Outlook, Volume 2009 Issue 1
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OECD Economic Outlook, Volume 2009 Issue 1

This June 2009 issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2010. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. This issue finds that a recovery is in sight but that damage from the crisis is likely to be long-lasting.
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After several years of exceptionally high growth, GDP is expected to contract this year. Exports will be the main drag on activity, followed by private investment. Growth is projected to recover slowly during the course of 2010 due to a brighter outlook for world trade. With rising unemployment, wage growth is expected to slow considerably. Consumer price inflation is also expected to continue to ease, though it will stay above the euro area level.
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