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2012 OECD Economic Outlook, Volume 2012 Issue 2

image of OECD Economic Outlook, Volume 2012 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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Iceland

Following a deep recession, the economy has grown steadily since late 2010. The recovery, which is being led by private consumption and residential and business investment, is projected to continue with growth at just over 2½ per cent in both 2013 and 2014. Inflation is set to fall sharply from almost 6% in spring 2012 to 3½ per cent by 2014, but to remain above the authorities’ target of 2.5%.

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