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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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Spain

Activity is likely to remain buoyant in 2007 before slowing in 2008. Although rising interest rates will curb domestic demand, it should remain the main driver of growth, led by non residential investment and public consumption. Headline inflation may fall in 2007, reflecting the negative albeit waning effects of lower oil prices, but is expected to rebound in 2008.

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