OECD Economic Outlook, Volume 2018 Issue 2
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 the implications for public policy of the decoupling of wages from productivity and a chapter summarising developments and providing projections for each individual country.
The Statistical Annex is available on-line only at https://dx.doi.org/10.1787/eco_outlook-v22018-2-en
Korea
Economic growth is projected to remain close to 3% through 2020, as fiscal stimulus offsets sluggish employment growth, which reflects double-digit hikes in the minimum wage in 2018-19 and restructuring in the manufacturing sector. Measures to stabilise the housing market have led to a decline in construction orders for residential property. Inflation is expected to edge up from 1½ per cent toward the 2% target, while the current account surplus will remain above 5% of GDP.