The World Economy

Author:

Abstract

While at a global level the outlook for growth remains strong, with GDP growth expected to exceed 4.5 per cent per annum until 2008, we have started to see some shift in the regional composition of growth, with a more dominant role for the Euro Area and Japan and weaker prospects in the US. Oil producing economies are also expected to record strong growth over the next few years, although the recent drop in the oil price has dampened the outlook for these economies slightly. China will continue to expand at a rapid pace, albeit with some easing from the exceptional growth in the first half of this year. Euro Area growth outpaced both the US and Japan in the second quarter of 2006, for the first time since 2001. This acceleration in Euro Area growth was dominated by private sector investment, supported by strong corporate profitability, rising capacity utilisation and low real interest rates.

Publisher

Cambridge University Press (CUP)

Subject

General Economics, Econometrics and Finance

Reference5 articles.

1. Kohman, E. and Weale, M. (2006), ‘The UK Savings Gap’, National Institute Economic Review, No. 198, October 2006.

2. Kirsanova, T. , and Sefton, J. (2006), ‘A Comparison of National Saving Rates in the UK, US and Italy’, NIESR Discussion Paper No. 278.

3. Barrell, R. , and Davis, E.P. (2006), ‘Financial Liberalisation, Consumption and Wealth Effects in 7 OECD countries’ Scottish Journal of Political Economy, (forthcoming).

4. Evaluating policy feedback rules using the joint density function of a stochastic model

5. Al Eyd, A. , Barrell, R. , Davis, E.P. , and Pomerantz, O. (2005), ‘The Resilience of Consumption in the Euro Area’, European Commission European Economy Working Paper, (forthcoming-submitted 7 December 2005).

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Growth and Labour Input in North America;National Institute Economic Review;2007-07

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