Regional developments and outlook

Economic activity plummeted precipitously in the developed country region over the course of 2008, with many of the major economies now technically in recession. Concerns of policymakers over inflationary pressures in the summer of 2008, resulting from the surging commodity prices and possible second-round effects via increasing wage pressures, have shifted quite dramatically to concerns over real activity and the heightening risks of a protracted recessionary period.

Sustainable Development Goals:

Decent Work and Economic Growth