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2014 OECD Economic Outlook, Volume 2014 Issue 1

image of OECD Economic Outlook, Volume 2014 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 which includes data on housing, debt, and many other variables.

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Australia

Output is projected to increase by 2½ per cent in 2014 and by nearly 3% in 2015, with a general pick‑up in demand offsetting declining investment in the resource sector. Some economic slack will remain and the unemployment rate will not begin to edge down until the second half of 2015. As a result, there will be little inflation pressure, although rapid growth in house prices and mortgage lending requires continued close attention.

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