Global Economic Forecast
Poland and Australia are predicted to register the smallest drop of 0.4% in real GDP in 2009, while Estonia, Ireland and Mexico are predicted to register the largest real GDP declines of -13.9%, -9.8% and -8.0%, respectively. Among the large European economies, the German and Italian economies are predicted to register the largest declines of 6.1% and 5.5% in 2009. The UK economy is predicted to shrink 4.3% during the same period.
In 2010, Hungary, Ireland and Spain are predicted to perform the worst among the countries covered by the OECD forecast, with their economies continuing to decline at rates of 2.2%, 1.5% and 0.9%, respectively. Korea, Slovak Republic and Mexico are predicted to be the best performing economies in 2010, among the countries covered by the OECD forecast, registering growth rates of 3.5%, 3.1% and 2.8%, respectively. According to the OECD global economic forecast, all the large economies in Europe are predicted to register minor growth not exceeding 0.4%. The UK economy in fact is expected to remain stagnant registering 0% real GDP growth. The US economy is predicted to expand at an average annual rate of 0.9% in 2010.
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