OECD draft ups Japan GDP view, tweaks others

25 Nov, 2005

The OECD predicts euro zone growth of 1.9 percent in 2006 after 1.4 percent GDP growth in 2005 and US growth of 3.5 percent in 2006 after 3.6 percent this year, according to draft OECD forecasts published by Bloomberg on Thursday.
The forecasts published by Bloomberg were dated November 4 and have a prediction of 1.9 percent economic growth in Japan in 2006 after 2.2 percent in 2005.
A spokesman for the Organisation for Economic Co-operation and Development said on Thursday there were regular meetings at the moment to review data and do any fine tuning needed before publication on November 29 of a twice-yearly OECD report, the Economic Outlook.
"There's been a lot of water under the bridge since November 4," spokesman Stephen Di Biasio said.
Bloomberg also said the draft OECD document said growth in its 30-country membership as a whole was expected to hit 2.7 percent this year and 2.9 percent next year, marginally higher than the OECD it was counting on before.
The OECD last issued an update of its forecasts on September 6, when it was reckoning on 1.3 percent growth in the euro zone in 2005, 0.1 percentage points below the one in the November 4 draft.
On September 6, it was predicting 2005 growth of 3.6 percent in the United States, unchanged in the November 4 draft, and 1.8 percent growth in Japan, significantly less than the November 4 draft's prediction of 2.2 percent this year.

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