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?
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What is the Economic Outlook for OECD Countries?
An Interim Assessment, Paris, 13th March 2007
Global rebalancing is under way, as foreseen in the Economic Outlook published late last year. The US expansion has shifted into lower gear and the robustness of the recovery in Continental Europe has been confirmed. Meanwhile, growth in much of Asia is holding up well. Oil prices remain jittery but are much lower than half a year ago, contributing to easing inflationary pressures. Equity prices have been volatile in recent weeks, as was the case last Spring, but to some extent this may reflect a measure of normalisation in the pricing of risk. On the whole, financial conditions are still favourable...
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