OECD Economic Outlook, Volume 2011 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.
United States
The economic recovery has lost significant momentum, with mediocre labour market performance and weak sentiment exerting a drag on domestic demand, at a time when fiscal tightening is beginning to have traction. Although there have been some signs of healing in financial markets, equity market losses and declines in house prices have again weighed on household wealth. All of these factors will continue to restrain demand for some time, but gradual improvements in confidence and accommodative monetary policy should help bring about an acceleration in output growth after mid-2012.