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2008 OECD Economic Outlook, Interim Report March 2009

image of OECD Economic Outlook, Interim Report March 2009

This interim OECD Economic Outlook analyses the current crisis and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2010 for both OECD and major non‑OECD economies. A particular spotlight is put on fiscal policy in a special chapter entitled The Effectiveness and Scope of Fiscal Stimulus. It addresses the following issues: How  governments in OECD countries changed the stance of fiscal policy in response to the crisis and What is the scope for additional fiscal stimulus in OECD countries to cushion the recession and help the recovery.

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Germany

The fall in economic activity has accelerated substantially as the collapse in world trade is depressing growth particularly strongly in Germany. In 2009, real GDP is projected to fall by about 5%, before starting a slow recovery in 2010. Unemployment is projected to rise sharply in 2009 and further in 2010, and inflation will be low and falling throughout the projection horizon.

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