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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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Luxembourg

Economic growth will continue to pick up in 2014 as the euro area gradually recovers, the mutual fund industry attracts more inflows and the pace of fiscal consolidation lessens. In 2015, the new EU VAT regime for e-commerce will bear on competitiveness, and higher domestic VAT rates slow demand. The backward-looking wage indexation could transmit the effects of the VAT rise into wages, reducing competitiveness.

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