Iceland Scores High in OECD Report Skip to content

Iceland Scores High in OECD Report

Iceland scores well in the latest OECD Economic Outlook report released yesterday.

centralbank_ipaIceland’s Central Bank. Photo copyright Icelandic Photo Agency.

The report states that the economy is projected to grow at just over 2.5 percent in 2013 and 2014. Inflation is expected to fall from 6 percent in spring 2012 to 3 percent by 2014.

According to the latest data from the Icelandic Central Bank, inflation stands at 4.5 percent, up from 4.2 percent last month.

The unemployment rate fell to 5.7 percent in Q3.

Consumption expenditure and business investment, primarily in power plants and energy-intensive industry, are projected to continue to be the mainstays of the recovery, the report states, noting that the difficulties in the global aluminum industry pose a risk.

ZR

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