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2007 OECD Economic Outlook, Volume 2007 Issue 1

image of 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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Australia

After being restricted to 2½ per cent in 2006 by the negative impact of a severe drought, the increase in activity could reach 3¼ per cent in 2007 and 2008, which is close to potential growth. Stronger exports should offset slowing domestic demand and unemployment is likely to remain low.

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