Growth is still high, but is gradually and appropriately moderating
R&D spending is higher than in a number of OECD countries
Disposable income of the top 20% over that of the bottom 20% of the income distribution
Trend growth is moderating but convergence proceeds
The economy is undergoing a number of transitions
The slowdown in growth and investment has been geographically uneven
High liquidity has fuelled a housing boom
Vacancy rates are high in some areas
Trade has slowed but the goods surplus has increased
Deflationary pressures are subsiding