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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Even though the economy has faced difficulties from fitful external demand and an underperforming construction sector, a marked rebound in GDP growth is projected in 2014 and 2015. As external demand strengthens with the US recovery and the effects of fiscal stimulus start to take effect, investor confidence should return. Monetary policy has been accommodative, while the exchange rate has remained stable. Inflation expectations are well anchored, although inflation jumped briefly at the beginning of the year following tax rate hikes.

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