OECD Economic Outlook, Volume 2013 Issue 1
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OECD Economic Outlook, Volume 2013 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 special chapter on growth prospects and fiscal requirements over the long term, and a statistical annex.

 

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Author(s):
OECD

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After decelerating throughout 2012 and turning negative in the fourth quarter, GDP growth is expected to strengthen gradually during 2013 and reach 2% in 2014. While subdued activity in the euro area will hold back the recovery, the pick up of world trade is projected to increase export growth. Wage and employment gains as well as low interest rates will support domestic demand, narrowing the current account surplus to 6% of GDP. The unemployment rate is expected to fall somewhat further, while consumer price inflation may rise to 2% in 2014.

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