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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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Greece

The economy grew briskly in 2006 on the back of a strong rebound in investment activity and robust consumption spending. Output growth is expected to continue to grow at around 3¾ per cent over the next two years and unemployment is set to fall further. Headline inflation should decline, as the contribution from oil prices wanes, but remain well above the euro area average. The current account deficit is expected to remain high.

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