2022 OECD Economic Outlook, Volume 2022 Issue 1

image of OECD Economic Outlook, Volume 2022 Issue 1

The war in Ukraine is a major humanitarian crisis with associated economic shocks that threaten the post-pandemic recovery. The OECD Economic Outlook, Volume 2022 Issue 1, highlights the implications and risks for growth, inflation and living standards from higher commodity prices and potential disruptions to energy and food supplies, and discusses the associated policy challenges.

This issue includes a general assessment of the macro-economic situation and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD Members as well as for selected partner economies.

English Also available in: Italian, French


Against the backdrop of high COVID-19 vaccination rates, the full reopening of the economy is boosting a broad-based recovery, with GDP projected to increase by 4.8% in 2022 and 2.7% in 2023. Business conditions underpin sizeable employment gains, while household excess savings and wage increases support consumer spending. However, surging inflationary pressures, caused by disruptions in global supply chains and geopolitical concerns, will cut households’ real income and dampen consumption growth.

English Also available in: French



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