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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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Slovak Republic

Economic activity rebounded in the second quarter after the sharp falls earlier on. Notwithstanding continued positive growth in the third quarter, annual GDP is expected to fall by close to 6% in 2009. Activity will gradually pick up in 2010 owing to a brighter outlook for world trade growth and a resumption of inflows of foreign direct investment, and growth should reach an annual rate of above 4% in 2011. The strong increase in unemployment is expected to gradually level off. With substantial slack in the economy, consumer price inflation is expected to remain fairly low.

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