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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Output is projected to fall by 4¼ per cent in 2009, with the rate of decline slowing as the year progresses, and by 1 per cent in 2010. The unemployment rate will reach about 20% in 2010, and inflation will fall to near zero. The government deficit is projected to reach 9½ per cent of GDP in 2010.

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