OECD Economic Outlook, Volume 2006 Issue 1
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OECD Economic Outlook, Volume 2006 Issue 1

OECD's twice-yearly assessment of the major economic trends and policies in member countries and selected non-members. This issue covers the outlook to the end of 2007.  Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments. This issue also contains a special chapter on Future Budget Pressures Arising from Spending on Health and Long-Term Care.
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Publication Date :
03 July 2006
DOI :
10.1787/eco_outlook-v2006-1-en
 
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Author(s):
OECD
Pages :
109–110
DOI :
10.1787/eco_outlook-v2006-1-25-en

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Economic growth continues to accelerate in the first half of 2006. Export growth is being pulled along by improved competitiveness and fast-growing export markets. Business investment is benefiting from buoyant corporate profits. The recovery should broaden as private consumption gains strength on the back of higher employment, reaching 2.8% next year. Inflation is low, but should move towards the euro area level by the end of 2007. The fiscal position has improved considerably in the last two years and is set to remain balanced in cyclically-adjusted terms in 2006-07. However, in view of the large unfunded pension liabilities falling due in the long term, efforts should be undertaken to achieve larger structural surpluses.
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