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2009 OECD Economic Outlook, Volume 2009 Issue 2

image of OECD Economic Outlook, Volume 2009 Issue 2
This November 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 2011. This issue contains a special chapter entitled “The automobile industry in and beyond the crisis”. It examines how closely the automobile and business cycles are related, how the automobile industry been affected by the crisis and what are the prospects for car sales.

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Finland

Output continued to decline in Finland over the first half of the year, as the collapse in exports deepened. However, a recovery should get underway by the end of 2009 with a bounce in exports from the current very low levels and substantial restocking. Harmonised inflation has remained above the euro area average due to large negotiated wage increases. The unemployment rate has climbed sharply, and is expected to continue to rise, magnified by significant labour market rigidities.

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