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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Euro area

The euro area started this year with considerable momentum. Growth in 2006 was higher than it has been since 2000, with stronger activity leading to a further improvement in the labour market. The outlook is bright. Consumption is expected to underpin the recovery going forward, with business and residential investment playing less of a role. GDP is projected to grow in the 2 to 2½ per cent range through this year and next, with inflation staying at close to 2%.

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