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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South Africa

Real GDP growth will be negative in 2009, but should turn positive in the fourth quarter and accelerate in the first half of 2010, boosted by the soccer World Cup. Inflation should return to the target range in 2010 aided by a substantial output gap and the feed through of past rand appreciation. The current account deficit will narrow this year but should widen thereafter as imports outpace exports.

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