OECD Economic Outlook, Volume 2012 Issue 1
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.
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United States
The economic recovery has gained momentum since the first half of last year, with moderate employment gains and a pick-up in the pace of consumer spending. Nevertheless, real GDP growth is projected to increase only gradually this year and next, as the economy is still overcoming important hurdles. Housing demand has increased noticeably, but the overhang of unsold homes and the tide of foreclosures will restrain the revival in residential investment.
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