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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As global conditions improve and domestic demand recovers, economic growth is projected to resume gradually. In light of recent positive surprises on GDP, employment and exports, the recovery may materialise more rapidly than expected, although developments remain fragile. The unemployment rate is expected to continue to slowly decline throughout the forecasting horizon. As economic slack is and will remain sizeable, inflation is set to remain very low, with a risk of deflation, which would make debt reduction more difficult.

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