Well-being in New Zealand is generally high, although there is room for improvement in incomes, housing affordability, distribution, water quality and GHG emissions. Economic growth is projected to remain around 21⁄2 per cent. The main risks to the outlook are rising trade restrictions and a housing market correction. Labour market reforms have been initiated to increase wages for the low paid but will need to be implemented cautiously to minimise potential adverse effects. Substantial planned increases in bank capital requirements should reduce the expected costs of financial crises but might reduce economic activity.

India has been a growth champion in recent years and has succeeded in taming inflation, the current account deficit and non-performing loans. India's participation in the global economy has risen, with outstanding performances in some services, while the largest diaspora in the world is an asset in developing new markets. India has also lifted many millions of people out of poverty and has made access to housing for all a priority. Ambitious structural reforms -- including better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code, the new approach to federalism and the corporate income tax reform -- have played a key role.

Swiss citizens continue to enjoy high living standards on a range of dimensions. Economic growth has slowed but the healthy labour market is still supporting incomes and consumption. However, risks to the outlook are building. Monetary policy has been very accommodative but low interest rates are adding to financial risks. Fiscal policy is sound and debt low. There is scope to make greater use of available fiscal space. Adapting to population ageing is becoming pressing. This trend, along with digital transformation, will bring new opportunities for the economy and society, but challenges as well. Policies have not kept up with rising life expectancy, particularly the statutory retirement age. Updating the pension system and lowering barriers to working longer would ensure that workers continue to receive adequate incomes during retirement.

After a strong recovery from the pandemic, the New Zealand economy has slowed, with higher interest rates weighing on housing construction, and inflation undermining purchasing power and consumption. Monetary policy has tightened significantly since late 2021 and proved efficient at reining in inflation. Better control of government spending is needed to keep fiscal consolidation on track in the short run and restore fiscal space for ageing-related expenditures and the green transition in the long run. New Zealand also faces an investment gap in addressing the needs of a rapidly growing population. Improving competition policies and streamlining the regulatory environment would help revive productivity growth and lift living standards in the long run. As highlighted by the recent OECD PISA study, achievement in school education has declined markedly. Inequality remains high and attendance has dropped. There is an urgent need to improve the curriculum, reform teacher education and strengthen support to teachers and schools to deliver better education outcomes. Adapting to climate change will require maintaining high insurance coverage for climate-related losses as well as changes to land-use planning and a comprehensive long-run energy strategy. The green transition needs a more rigorous cost-benefit assessment of emission reduction options. Special features: Competition, School Education, Climate Change

Wellbeing in Norway is high; GDP per capita is among the top-ranking countries and the country scores well in measures of inclusiveness. Several challenges must be addressed, however, if this good standing is to be sustained. The economy is vulnerable to trade risks. Also, though property markets and related credit appear to be heading for a soft landing, risks remain. Norway has substantial opportunities for more effective public spending remain, and exploiting these will become more important as fiscal space narrows. Productivity growth remains low, requiring attention to business policy.

A guide for constructing and using composite indicators for policy makers, academics, the media and other interested parties. In particular, this handbook is concerned with indicators which compare and rank country performance.