OECD sees slow growth through next year |
| International Herald Tribune - Jun 4, 2008 |
Growth among the leading industrialized countries will slip this year and next, with activity set to remain subdued in the United States, but a protracted downturn or inflation spiral will be avoided, the Organization for Economic Co-operation and Development said Wednesday.
Economic growth in the OECD's 30 members will slow to 1.8 percent this year and 1.7 percent next year, the club of developed nations said in its twice-yearly outlook. That compares with its previous forecast of 2.3 percent in 2008 and 2.4 percent in 2009.
Among the industrialized economies, the U.S. economy will grow just 1.2 percent this year and 1.1 percent in 2009, the OECD predicted in the report, ascribing the downturn largely to the troubled housing markets.
Read Full Article from International Herald Tribune
- Posted: 2008-06-04 10:16:07
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