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2013 OECD Economic Outlook, Volume 2013 Issue 1

image of OECD Economic Outlook, Volume 2013 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 special chapter on growth prospects and fiscal requirements over the long term, and a statistical annex.

 

English French, German

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Euro Area

Activity is still falling, reflecting ongoing fiscal consolidation, weak confidence and tight credit conditions, especially in the periphery. Growth is projected to pick up only slowly during the second half of 2013 as the pace of fiscal consolidation slows down and private demand strengthens on the back of improving confidence and declining financial market fragmentation. High unemployment and excess capacity will depress inflationary pressures.

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