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2019 OECD Economic Outlook, Volume 2019 Issue 1

image of OECD Economic Outlook, Volume 2019 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 the effects of digitalisation on productivity and a chapter summarising developments and providing projections for each individual country.

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Hungary

The economic expansion is projected to slow, but GDP will still grow at 3.9% in 2019 and 3% in 2020. Private consumption will be underpinned by income gains from strong real wage and employment growth. Investment will be supported by the business sector’s need to expand capacity, government housing support and disbursements of EU structural funds. A tight labour market is pushing up inflation and increasingly tight capacity constraints are reducing GDP growth, with expanding demand being increasingly satisfied via higher imports.

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