2007 OECD Economic Outlook, Volume 2007 Issue 1

image of OECD Economic Outlook, Volume 2007 Issue 1
This 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. Two special reports are included: one covers the effects of globalisation and how to maximise its benefits and minimise its adjustment costs. The second covers fiscal consolidation.

English Also available in: French, German

United States

Output has slowed to below its potential growth rate, reflecting a dramatic contraction in house building. As this flattens out, GDP growth should progressively return to trend. Core inflation has been high, partly due to rising housing costs and the flow-on of higher energy prices to other goods and services. But, as long as expectations of inflation remain relatively low, these effects should fade and inflation should edge down.

English Also available in: French

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