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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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United States

Supported by accommodative monetary policy and financial conditions the economy continues to recover gradually from the recession that ended a year and a half ago. Nevertheless, the adverse effects of the crisis are still being felt, particularly in the form of still-high unemployment. Output growth should gain speed and the unemployment rate should continue to decline through 2012 though the pace of expansion will be limited by household deleveraging and initial steps at fiscal consolidation.

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