OECD Economic Outlook, Volume 2012 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, chapters summarising developments and providing projections for each individual country and an extensive statistical annex.
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Greece
The economy contracted further in 2012 owing to strong, but absolutely necessary, fiscal consolidation, declining wages and confidence, and weak external demand. Unemployment has risen to historical highs. A return to positive growth is projected only towards the end of 2014 as world trade strengthens, confidence returns and competitiveness improves.
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