World Economic Outlook, October 2007: Globalization and Inequality

The global economy grew strongly in the first half of 2007, although turbulence in financial markets has clouded prospects. While the 2007 forecast has been little affected, the baseline projection for 2008 global growth has been reduced by almost " percentage point relative to the July 2007 World Economic Outlook Update. Risks to the outlook, however, are firmly on the downside, centred around the concern that financial market strains could deepen and trigger a more pronounced global slowdown.