OECD Economic Outlook, Volume 2007 Issue 1
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OECD Economic Outlook, Volume 2007 Issue 1

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.
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Activity accelerated in the second half of 2006, while currency appreciation has set back the return to a more balanced growth path and underlying inflationary pressures have not yet dissipated. Recent further monetary tightening should gradually rein in household spending, and wages are expected to slowly moderate as the unemployment rate rises: growth may be modest over the projection period.
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