GDP growth was expected to be near 0.0% in the first half of the year according to the consensus outlook early in the year, then rise to 2% in the second half and rise further in 2009. The stall in the first half did not happen; GDP growth will be 1.5%+. Now there is no consensus on what happens next. Forecasts are split between a delayed stall later in the year with 1.0-1.5%% GDP growth next year and a progressive, if slow, recovery with GDP growth at a near 2% for the rest of the year and a bit stronger next year.

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