This June 2008 issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2008. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. The special chapter examines the implications of supply-side uncertainties for economic policy.
Following a marked slowdown, the economy has expanded at a rate close to potential and the pronounced labour and capacity shortages are easing only gradually. Going forward, construction activity is projected to contract and to drag down growth. Export demand is set to weaken, and households are likely to become more cautious when spending.