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Growth Expected But Spoilers Remain

By McClenahen, John S
Publication: Industry Week
Date: Sunday, January 1 2006
HEADNOTE

INDUSTRIAL ECONOMIES

HEADNOTE

For the world's major economies, respectable growth is expected in 2006 and 2007. But higher energy prices, among

other developments, could be a spoiler.

IT COULD BE A VERY HAPPY NEW year for the U.S. and other industrialized nations in both 2006 and 2007.

The latest economic forecast from the Paris-based Organization for Economic Cooperation and Development (OECD) projects inflation-adjusted average growth in 2006 and 2007 of 2.9% among its 30 member nations. That's two-tenths of a percentage point better than the 2.7% with which the countries are expected to close out 2005. Inflation in 2006 and 2007 is expected to be a manageable 1.9%, down from a 2.1% average in 2005. Unemployment among the OECD countries also is expected to be down to an average of 6.3% in 2006 and 6% in 2007 from a 6.5% average in 2005.

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