2012 OECD Economic Outlook, Volume 2012 Issue 1

image of OECD Economic Outlook, Volume 2012 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. 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, a chapter on medium and long-term scenarios for growth and imbalances, and a and a statistical annex.

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After stagnating in the first half of this year, economic activity is expected to pick up modestly. Real GDP is projected to grow by just 0.6% in 2012 and 1.2% in 2013. Residential investment might decrease as house prices have started to decline from high levels, and affordability is poor. The unemployment rate may peak at 10.5% at the beginning of 2013 and fall only slowly thereafter. Headline inflation should recede to below 2% in 2013.

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