According to Globes, OECD predicts that the aggregate GDP of the G7 will shrink by 3.7% in 2009. This figure is an improvement on the previous prediction of a 4.1% contraction. According to the OECD, developed countries will emerge gradually from the recession.



The OECD predicts that Israel's GDP will drop by 2% in 2009, and grow by 0.2% in 2010. It expects Israel's private consumption to decline by 1.7% this year and rise by 1.3% next year.



The OECD also predicts that Israel's exports will fall by 25.2% in 2009 and expand by 2.6% in 2010, while imports will fall 24.3% this year and grow by 3.7% next year.



The OECD expects inflation in Israel to be 2.5% in 2009 and 1.1% in 2010, and that the unemployment will rise to 8.5% this year and 9.3% next year.