In domestic demand, public investment is likely to continue to be on an increasing trend and housing investment likely to also continue to pick up. In the not distant future, business fixed investment will likely return to the moderate uptrend partly due to investment related to disaster prevention and energy.
Let me begin by wishing you a Happy New Year. In my remarks I will focus on the major OECD economies and address three issues. •  First, the current economic situation, taking into account the major economic developments in 2013. Here, I can be brief thanks to the excellent background papers the secretariat provided.