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2006 OECD Economic Outlook, Volume 2006 Issue 2

image of 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?

English French, German

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Germany

The economy has entered a sustainable recovery and is projected to grow above potential throughout the projection period, although growth is expected to fall temporarily below 2% in 2007 in the wake of the value-added tax rate increase. The growth impetus is likely to shift from exports and investment to consumption in 2008, as unemployment recedes and real incomes rise. The government deficit is projected to fall to 2¼ per cent of GDP this year and below 1½ per cent in 2007 and 2008.

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