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.

English Also available in: French, German


The rapid pace of economic expansion has continued, fuelled by robust investment and private consumption. The labour market has tightened further, leading to double-digit wage increases. This, combined with soaring fuel and food prices, hikes in regulated tariffs and general excess-demand pressures, has pushed the inflation rate well above the central bank’s target. With enormous real income gains, the economy should continue to expand above potential rates for some time, resulting in a widening current account deficit.

English Also available in: French



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