Thursday, September 9, 2010

OECD: World Economic Recovery Slowing Amid Increased Uncertainty (Video)


OECD Interim Economic Assessment (September 9, 2010)

OECD: World Economic Recovery Slowing Amid Increased Uncertainty

The Organisation For Economic Co-Operation And Development issued an Interim Economic Assessment today. OECD Chief Economist and Deputy Secretary-General Pier Carlo Padoan stated regarding the world economic recovery, "The uncertainty is caused by a combination of both positive and negative factors, but it is unlikely that we are heading into another downturn.”

The Interim Economic Assessment states, "Recent high‐frequency indicators point to a slowdown in the pace of recovery of the world economy that is somewhat more pronounced than previously anticipated. Based on the most recent data, the OECD short-term forecasting models show that US GDP is expected to rise by 2.0% in the third quarter but then moderate to 1.2% in the fourth quarter of 2010. In Japan, GDP growth is forecast at 0.7% in the fourth quarter after 0.6% in the third."

(OECD) The world economic recovery may be slowing faster than previously anticipated, according the OECD's latest Interim Economic Assessment.

About the OECD
The OECD has 33 member countries, including the USA and Japan but not China and Russia. OECD brings together the governments of countries committed to democracy and the market economy from around the world to:
Support sustainable economic growth
Boost employment
Raise living standards
Maintain financial stability
Assist other countries' economic development
Contribute to growth in world trade
The Organisation provides a setting where governments compare policy experiences, seek answers to common problems, identify good practice and coordinate domestic and international policies.

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