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2016 OECD Economic Outlook, Volume 2016 Issue 1

image of OECD Economic Outlook, Volume 2016 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, a special chapter on promoting productivity and equality, a chapter summarising developments and providing projections for each individual country and a statistical annex.

 

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Euro Area

The ongoing moderate recovery is projected to continue, with GDP growth reaching 1.7% in 2017. Sustained monetary stimulus and low oil prices will support domestic demand, but the slowdown in emerging market economies will weigh on exports. As a result, the large external surplus will decrease slightly. The decline in unemployment should also continue at a modest pace, but differences across euro area countries will persist. Continued cyclical slack and some second-round effects from cheaper energy will hold inflation well under the ECB’s target of just below 2%.

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