OECD forecast 2.1% economic growth for 2008

In its economic forecast which was presented last week the Organistion for Economic Co-operation and Development (OECD) forecast a continuation of the worldwide economic upswing, even though this will be slightly less intensive than so far. Despite considerable risks posed by the slowdown on real estate markets, turbulences on the financial markets and high raw material prices, growth would only temporarily slow down in several member states and then regain momentum.

For all thirty OECD member states combined economic growth is estimated to amount to 2.7% in real terms this year and to 2.3% next year. As far as Germany is concerned, the OECD slightly lowered its previous forecast figures now expecting economic growth of 2.5% this year and of 2.1% next year. These expectations are slightly above those of the German government. GERMAN