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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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Mexico

Economic growth is set to fall well below potential in 2008 and 2009, before gradually recovering in 2010. The weak US economy and a fall in oil production will cut exports over the next several quarters, while the effects of the financial turmoil will depress domestic demand growth. Activity will recover through 2010 as global economic conditions improve. Inflation will return to near the target rate as commodity prices fall, activity slows and monetary tightening keeps expectations anchored, although the recent sharp depreciation of the peso will put upward pressure on prices.

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