This issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2008. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. Two special reports are included: one covers the effects of globalisation and how to maximise its benefits and minimise its adjustment costs. The second covers fiscal consolidation.Click to Access:
- 28 June 2007
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The long-awaited recovery was confirmed in 2006 as GDP grew by nearly 2%. Buoyant export markets and quality improvements by Italian exporters gave rise to solid export gains, which then stimulated domestic demand and jobs growth. Growth should remain strong in both 2007 and 2008 so long as foreign demand stays robust and restructuring continues. The output gap will narrow rapidly given that potential output growth is estimated to be less than 1½ per cent, and inflation could rise somewhat.
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