OECD Economic Outlook, Volume 2014 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 which includes data on housing, debt, and many other variables.
Euro Area
Economic activity is projected to continue to recover as confidence improves further, financial market fragmentation declines and fiscal consolidation eases. Still, the pace will remain moderate, with still-high debt and tight credit conditions bearing on economic activity, especially in the vulnerable countries. Weak private sector balance sheets are likely to continue to affect confidence and growth for some time. High unemployment and large margins of excess capacity will recede slowly with inflation remaining very low.
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