OECD Economic Outlook, Volume 2006 Issue 2
Twice a year, the OECD Economic Outlook analyses the major trends and examines the economic policies required to foster high and sustainable growth in member countries. Developments in major non-OECD economies are also evaluated. The present issue covers the outlook to end-2008. Together with a wide range of cross-country statistics, the Outlook provides a unique tool to keep abreast of world economic developments.
In addition to the themes featured regularly, this issue contains a special chapter entitled Has the rise in debt made households more vulnerable?, which addresses the following questions:
- What factors explain the observed rise in household debt in many OECD countries?
- Have asset price movements offset the impact on households’ financial positions?
- Are some sectors or groups particularly vulnerable to adverse asset market or income developments?
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Belgium
After healthy growth in 2006, economic momentum is expected to slow somewhat during the next two years. Domestic demand is being sustained by higher real incomes and employment increases, but continued export market losses show that the economy is not fully benefiting from the international recovery. Despite the slowdown, economic growth will remain higher than the potential rate (just below 2%) closing the output gap by end-2008. There are already signs that slack is disappearing in some parts of the economy; nevertheless, core inflation is projected to remain subdued while headline inflation falls forwards towards the core rate on the back of lower oil prices.
Also available in: French
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