OECD Economic Outlook, Volume 2012 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 chapter on medium and long-term scenarios for growth and imbalances, and a and a statistical annex.
China
China’s slowdown became more pronounced in late 2011 and early 2012 as first exports and then inventories fell. Final domestic demand held up well though, aided by accelerating household incomes and slower inflation. As the inventory cycle turns, and fiscal and monetary policy become more expansionary, growth should pick up in the course of 2012 and stabilise at over 9% in 2013. The current account surplus continued to shrink during 2011 and is projected to drop to just over 1½ per cent of GDP by 2013.