Already strong in North America and most of Asia, economic momentum now looks well established in Japan, and continental Europe is progressively recovering from its latest bout of weakness. The fledgling European expansion has been facilitated by low long-term interest rates, euro depreciation and buoyant export markets, although final domestic demand is still growing below trend.

From the introduction to OECD Economic Outlook, Preliminary edition, November 2005. Click here for full text and data.

©OECD Observer January 2006