The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.
Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country, a chapter on medium and long-term scenarios for growth and imbalances, and a and a statistical annex.
- 19 June 2012
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The outlook has been gradually improving, despite the persistent European debt crisis and consequent economic uncertainties. Against this backdrop, the main drivers of growth will continue to be private consumption and investment. External demand is also expected to be increasingly supportive. By contrast, fiscal consolidation will work in the opposite direction. In all, growth is projected to be around 2¼ per cent in 2012 and 2½ per cent in 2013.