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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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Korea

Following a pause in mid-2012, output growth is projected to pick up gradually to around 4½ per cent by 2014, led by a rebound in exports as world trade gains momentum. Private consumption is likely to remain subdued, given the high level of household debt. Inflation, which has fallen to less than 2%, is expected to return to the central bank’s target range of 2.5-3.5%.

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