RT Book, Section
A1 OECD
T1 United States
JF OECD Economic Outlook
YR 2009
FD Jun 24
VO 2009
IS 1
SP 67
OP 72
AB The US economy is going through a severe and protracted recession which is projected to bottom out later this year, as fiscal and monetary support takes hold and the housing cycle bottoms out. In 2010, even after a recovery gets under way, GDP growth is likely to remain weak because of the slowdown in capital accumulation, negative wealth effects and still adverse, albeit improving, financial conditions. In this environment, a considerable degree of economic slack, especially in the labour market, is likely to persist over the projection period, bringing inflation to very low rates.
PB Organisation for Economic Co-operation and Development
DO 10.1787/eco_outlook-v2009-1-4-en
UL http://www.oecd-ilibrary.org/;jsessionid=dqgaoq8q5p6fa.x-oecd-live-01content/chapter/eco_outlook-v2009-1-4-en