OECD Economic Outlook, Volume 2008 Issue 1
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OECD Economic Outlook, Volume 2008 Issue 1

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.
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Author(s):
OECD

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GDP growth slowed in the second half of 2007 and is expected to remain well below trend at 1½ per cent in 2008. The housing market continues to adjust, with further sharp reductions in house-building and falling house prices. Domestic demand will stay weak this year and into 2009, but GDP growth should turn around to reach 3¼ per cent in 2009 as the housing construction cycle bottoms out.
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