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2011 OECD Economic Outlook, Volume 2011 Issue 2

image of OECD Economic Outlook, Volume 2011 Issue 2

The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country and an extensive statistical annex.

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Portugal

The economy is expected to contract further through 2012, due to necessary fiscal consolidation, deleveraging and a marked slowdown in external demand. Unemployment is set to rise further, while higher indirect taxes will push up prices. In 2013, a mainly export-led return to growth is expected to gather pace, as global conditions improve. Private domestic demand should also start growing again and the current account deficit is expected to narrow substantially.

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