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2008 OECD Economic Outlook, Volume 2008 Issue 2

image of OECD Economic Outlook, Volume 2008 Issue 2

This December 2008 edition of the OECD Economic Outlook presents OECD's first set of economic analysis and projections since the financial crisis began. As always, it includes and overall assessment as well as individual country assessments for OECD and major non-OECD economies, and an extensive statistical annex.  This edition's special feature covers responses to inflation shocks.

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India

Growth has continued to slacken to under 8% by the second quarter of 2008. Inflation is high, driven by commodity prices, but the peak appears to have passed. The current account deficit has risen substantially and there is downward pressure on the exchange rate. The economy is projected to slow further over the next year and to recover in tandem with the world economy in 2010.

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