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2009 OECD Economic Outlook, Volume 2009 Issue 1

image of OECD Economic Outlook, Volume 2009 Issue 1
This June 2009 issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2010. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. This issue finds that a recovery is in sight but that damage from the crisis is likely to be long-lasting.

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Korea

Output growth was positive in the first quarter of 2009, following the severe contraction in late 2008. Nevertheless, the unemployment rate has risen significantly, inflation has decelerated and the current account surplus has increased sharply. Output growth is projected to pick up further in line with the recovery in world trade, reaching a rate of 4½ per cent by late 2010.

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