Hostname: page-component-77c89778f8-fv566 Total loading time: 0 Render date: 2024-07-20T20:41:46.004Z Has data issue: false hasContentIssue false
  • English
  • Français

The World Economy

Demographics and global growth

Published online by Cambridge University Press:  26 March 2020

Get access Rights & Permissions [Opens in a new window]

Extract

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.

Type
Articles
Information
National Institute Economic Review , Volume 198 , October 2006 , pp. 10 - 35
Copyright
Copyright © 2006 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

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).Google Scholar
Barrell, R., and Davis, E.P. (2006), ‘Financial Liberalisation, Consumption and Wealth Effects in 7 OECD countries’ Scottish Journal of Political Economy, (forthcoming).Google Scholar
Barrell, R., Hall, S.G., and Hurst, A.I.H. (2006), ‘Evaluating Policy Feedback Rules using the joint density function of a stochastic model, Economics Letters, Vol. 93(1).CrossRefGoogle Scholar
Kirsanova, T., and Sefton, J. (2006), ‘A Comparison of National Saving Rates in the UK, US and Italy’, NIESR Discussion Paper No. 278.Google Scholar
Kohman, E. and Weale, M. (2006), ‘The UK Savings Gap’, National Institute Economic Review, No. 198, October 2006.Google Scholar