Friday, September 10, 2010

Global economic recovery slowing: OECD

From the SMH: Global economic recovery is slowing at a greater rate than expected and extra stimulus from governments may be needed, although another recession remains "unlikely", the Organisation for Economic Cooperation and Development said on Thursday.

Treasurer Wayne Swan warned the assessment showed recovery would be an ongoing challenge, but added Australia had fared well through the economic crisis.

Growth in the Group of Seven leading industrialised economies could slow to an annual rate of 1.5 per cent in the second half of the year, the OECD said in an interim assessment, lowering a projection in May of 1.75 per cent.

"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," the OECD on

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