Middle East Economic Survey

VOL. XLVII

No 49

6-December-2004

OIL PRICES

High Oil Prices Hit Personal Income But Industrial Economies To Grow Above Trend, Says OECD

While personal incomes in OECD countries have been depressed lately because of the high oil prices, the fact remains that western industrial economies will regain momentum with growth trends in the next two years above normal trends, according to the twice-yearlyOECD Economic Outlook published last week.

The report states that although...