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2011 OECD Economic Outlook, Volume 2011 Issue 1

image of OECD Economic Outlook, Volume 2011 Issue 1

The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years.  Prepared by the OECD Economics Department, the Outlook puts forward a consistent set of projections for output, employment, prices and current balances based on a review of each member country and of the induced effect on each of them on international developments.

Coverage is provided for all OECD member countries as well as for selected non-member countries. Each issue includes a general assessment, chapters summarising developments and providing projections for each individual country, three to five chapters on topics of current interest, and an extensive statistical annex. Subscribers to the print edition also have access to an online edition, published on the internet six to eight weeks prior to the release of the print edition. In addition to the usual macroeconomic and country assessments and statistical annex with projection data, this issue of the OECD Economic Outlook also includes special chapters on the persistence of high unemployment and drivers and vulnerabilities associated with international capital flows.

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China

Tighter monetary conditions have reined in growth, which is projected to average around 9% in 2011-12. Inflation has continued to veer up, with the price of all demand components combined up by 6¾ per cent in the year to the first quarter of 2011. As excess demand in the economy is gradually eliminated and import prices stop rising, inflation should ease back in 2012. The current account surplus is set to fall to 4½ per cent of GDP (from over 10% in 2007), as result of slower export growth and higher commodity prices.

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