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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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Korea

Following a slowdown in late 2011, output growth is projected to pick up gradually, led by a rebound in exports as world trade gains momentum. Stronger exports will in turn boost domestic demand, helping to achieve output growth of 4% in 2013. With higher oil prices, the current account surplus is expected to fall to around 1½ per cent of GDP.

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