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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GDP growth picked up significantly in the second and third quarters of 2009. Private consumption was the main driver. Investment rebounded strongly in the third quarter, but it continues to suffer from a dearth of credit. Exports are growing faster than imports, sustaining the trade and external current account surpluses. Inflation fell rapidly in the first semester. Activity is projected to gather some further impetus, buoyed by rising investment and easing credit conditions.

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