Forecast of key economic indicators - international forecasters


	OECD November 2019			IMF October 2019		European Commission November 2019
	2019	2020	2021	2019	2020	2019	2020	2021

Key Results
Annual change in %
Real GDP	1.5	1.3	1.3	1.6	1.7	1.5	1.4	1.4
Real private consumption	1.3	1.6	1.6	x	x	1.5	1.5	1.3
Real government consumption	0.1	0.2	0.9	x	x	0.9	1.3	1.1
Real gross fixed capital formation	2.9	1.7	1.5	x	x	2.9	1.2	1.1
Real exports	3.3	1.4	1.3	1.8	1.3	2.3	2.3	2.3
Real imports	3.4	2.0	1.5	1.2	1.1	2.6	2.3	2.0
Labour productivity	0.5	0.6	0.5	x	x	0.5	0.7	0.8



GDP deflator	1.6	1.4	1.4	1.6	1.8	1.9	1.7	1.7
HICP	1.6	1.5	1.4	1.5	1.9	1.5	1.6	1.6
Unit labor costs	x	x	x	x	x	2.3	1.3	1.1



Payroll employment	0.9	0.8	0.8	0.7	1.1	1.1	0.7	0.6



% of labour force
Unemployment rate	4.6	4.5	4.6	5.1	5.0	4.6	4.6	4.6



% of nominal GDP
Current account	1.4	0.7	0.6	1.6	1.8	2.2	2.1	2.2
General government surplus/deficit	0.3	0.4	0.3	0.1	-0.2	0.4	0.2	0.4



Conditioning assumptions
Oil price in USD/barrel	63.4	60.0	60.0	61.8	57.9	63.3	57.4	56.1
Short-term interest rate in %	-0.4	-0.4	-0.4	-0.4	-0.6	-0.4	-0.5	-0.5
USD/EUR	1.12	1.11	1.11	1.12	1.12	1.12	1.11	1.11

Source: OECD, IMF, European Commission.

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last update on 21.11.2019 16:54