OECD Economic Outlook, Volume 2012 Issue 2
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OECD Economic Outlook, Volume 2012 Issue 2

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 and an extensive statistical annex.

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Author(s):
OECD

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Italy’s comprehensive policy of growth-friendly structural reforms and fiscal consolidation is well underway. Nonetheless, the economy is projected to continue contracting in the short term, reflecting budgetary tightening, weak confidence and tight credit supply. Weak growth will put further downward pressure on employment, wages and consumer prices. With gradual improvements in competitiveness, confidence and financial conditions, the economy is projected to return to growth during 2013.

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