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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The recession in Spain is projected to continue in 2013 as fiscal consolidation and high private sector indebtedness undermine domestic demand. Trading partner growth and cost competitiveness gains, along with improved financial conditions as interest rate spreads gradually go down, will help to spur a slow recovery in 2014. The unemployment rate is projected to rise to over 28% before stabilising. Inflation and wage pressures will remain subdued. Due to substantial consolidation efforts, the fiscal deficit is expected to continue to fall.

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