[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Monday, 6 March 2006, 11:37 GMT
G7 economies 'on track' says OECD
Jaguar car being built in Birmingham, UK
The global economy is motoring again, says the OECD
The global economy is generally back on track after last year's post-hurricanes dip, said the Organisation for Economic Co-operation and Development (OECD).

Looking at the Group of Seven (G7) most developed economies, the OECD said the storms that hit the US Gulf of Mexico coast had only had a temporary effect.

The OECD said growth was again meeting targets against a backdrop of high energy prices but low interest rates.

Eurozone growth was slowest but should grow stronger by the summer, it added.

'Robust US'

By comparison, the UK economy was continuing to meet its growth potential, and Japan was "now enjoying a broad-based recovery", driven by exports, business investment and consumer spending.

In the US, the economy had rebounded sharply in the first quarter of 2006.

"[US] job creation has remained robust and business confidence is consistent with above-par growth in the near term," said the OECD.

The G7 comprises the US, UK, Japan, France, Germany, Italy and Canada.

Irish economy cheered on by OECD
02 Mar 06 |  Business
OECD warns on eurozone rate rise
29 Nov 05 |  Business
US growth still solid, OECD says
28 Oct 05 |  Business
OECD slashes UK growth forecasts
12 Oct 05 |  Business
China's economy roars ahead
16 Sep 05 |  Business
Eurozone growth warning from OECD
12 Jul 05 |  Business

The BBC is not responsible for the content of external internet sites


Americas Africa Europe Middle East South Asia Asia Pacific