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.
New Zealand
The economy is picking up, fuelled by strengthening domestic demand, including post-earthquake reconstruction. Growth in 2013 and 2014 should be bolstered by residential and business investment but may be tempered by the strong exchange rate, fiscal consolidation and, in 2013, temporary drought effects. Firming housing markets and gradually rising employment will support household spending growth. Inflation is projected to remain within the target range over the projection but will rise from low levels as earthquake rebuilding absorbs excess capacity.
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