2020 OECD Economic Outlook, Volume 2020 Issue 1

image of OECD Economic Outlook, Volume 2020 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 of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.

English Also available in: German, French


After the social protests of late 2019, the COVID‑19 outbreak and the drop in commodity prices will push the economy into its deepest recession since 1982. If a second outbreak occurs later in the year, GDP will decrease by 7% and will start rebounding only in 2021. Should the current pandemic subside, a recovery led by consumption will start in the third quarter of 2020, even though GDP will still fall by 5.6% in 2020. Trade will remain depressed by a sluggish global recovery.

English Also available in: French



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