2008 global economic outlook

The world economy is likely to slow down by the end of the year with uncertain oil prices, and big swings in global financial markets.

That's according to a report by Dow Jones and Merrill Lynch looking at the global economy in 2008.

And they're predicting further tightening for the credit market, and an especially gloomy outlook for sectors like raw materials and energy.

The report sees steady weakening in the US dollar, with shrinking investment headed into the United States, due to fallout from the subprime mortgage crisis.

But it's more upbeat for the second half of the year with predictions the US economy may recover somewhat in the latter half of 2008.

The report also touches on emerging countries like China, which it thinks will suffer less than most, in the event of the US heading into recession.