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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The economy has experienced a broad-based slowdown and growth is expected to remain weak for some time. The current account deficit has narrowed as imports have softened on account of cooling domestic demand and a weaker rupee. Inflation has temporarily been pushed up by hikes in regulated petroleum prices but is expected to decline as spare capacity mounts. This will create room for easing monetary policy, which has been hindered by persistently high inflation and a widening fiscal deficit.

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