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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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Spain

Output growth, which reached 3.7% in 2006, should moderate somewhat in 2007 and 2008 as monetary conditions tighten and exports are expected to weaken. It will, however, remain robust, pushing the unemployment rate to below 8%. With inflation stabilising at around 3%, the differential with the euro area is unlikely to shrink significantly, implying a further erosion of international competitiveness.

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