2013 OECD Economic Outlook, Volume 2013 Issue 2

image of OECD Economic Outlook, Volume 2013 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 a statistical annex.

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United States

Economic growth has been modest in 2013 but will gather momentum in 2014 and 2015. The on-going fiscal contraction and low consumer and business confidence have been creating strong headwinds, but are assumed to diminish during 2014. Gradual labour market recovery, debt deleveraging and gains in asset prices will underpin consumption and residential investment growth. Easing credit conditions and ample corporate cash flow will support increasing business investment.

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