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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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United Kingdom

Output grew by 2¾ per cent in 2006, close to its trend rate, with only moderate labour market tensions, because of strong inward migration. Consumer price inflation veered up temporarily to just above 3%, partly because of a hike in electricity and gas prices, but is expected to drop back to about 2%. Output growth is likely to remain brisk, propelled by strong business investment.

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