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2008 OECD Economic Outlook, Volume 2008 Issue 1

image of 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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Norway

After reaching a peak last year, the growth of activity in mainland Norway is projected to gradually moderate in 2008-09. Wage increases are currently edging up and import prices are no longer declining, both with unfavourable effects for inflation prospects and real incomes. The high level of household gross debt is projected to weigh on private consumption and lead to a higher personal saving ratio.

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