OECD says recession 'near bottom'

OECD says recession 'near bottom'

news.bbc.co.uk

It looks like the worst scenario has been avoided," the OECD said.

"Even if the subsequent recovery may be slow, such an outcome is a major achievement of economic policy."

The OECD adds that there are already signs of recovery in the large non-OECD countries such as China, and that in the US activity could bottom out in the second half of 2009.

However, it is more pessimistic about the prospects for the UK and the eurozone.

(visit the link for the full news article)


Related News Links:
www.reuters.com
online.wsj.com

Related AboveTopSecret.com Discussion Threads:
2009 Depression Validated
Bond Market Meltdown Next?????

I posted the article because it is not forecasting all doom and gloom. The world economies are still loosing ground this year but for most nations this source is predicting bottoming out the second half of this year, followed by modest growth. You can take it for what ever it is worth. Just another side to the story.

news.bbc.co.uk
(visit the link for the full news article)

They do not really know, as they said a while back it would be over already.

They do not really know, alot of finance stuff is a guessing game.

reply to post by andy1033


I do think you are right but only to a degree. I tend to take a more pessimistic look at matters of this sort. I tend to feel that the powers that be have much better information then any will admit to. It is because of that information that they take much less risk when they invest then do any of us average people. I think they know what is going to happen to a reasonable good provability of being on the mark.

Thanks for posting.

Near the bottom of an unfathomable abyss means that we still have a long way to go before hitting that bottom.

reply to post by RedGolem


I believe that this is the most realistic scenario. The economy will go up again later this year.

Of course you can tear all your hair out believing that the economy will now crash completely and the depression will be deeper than 1930's and last until 2020, but I doubt that...

Then again, the people predicting where the economy will go are about as reliable as astrologers, so we might just as well read the horoscopes...

I am only worried about loss of jobs and the millions of personal tragedies that brings, actually I think it would be really good if we could get rid of this hyper-consumerism and all of the financial predators out there.

reply to post by Etsivä Romppainen


I defently got to agree with the latter part of your last paragraph. It will always be the predators who come about ahead in this game. Not that every one on the site was not already aware of that. I just don't really see it happening that way just yet.

Thanks for posting.

I think we are going to see another major crash in early August. Worse than we had seen last year. The only thing that will save the global economy is going to be a war. To bring it out of the state it is in, will have to be a significant war.

Originally posted by andy1033
They do not really know, as they said a while back it would be over already.

They do not really know, alot of finance stuff is a guessing game.

Actually they have some good guesses, like this one was the W process where there would be two dips. Realists were predicting exactly what we are seeing, plus the eventual bottoming out later this year.

Plus, every time we make an inaccurate prediction, we learn something which helps us make a more accurate prediction the next time...

Remember, nature responds to uncertainty with numbers

That's the beauty of the "trial and error" method... It's the quickest road to success.




[edit on 24-6-2009 by HunkaHunka]

It seems we can buy American and it does affect our over seas suppliers.
U.S. Economy: Goods Orders Unexpectedly Jump as Recession Eases

June 24 (Bloomberg) -- Orders for U.S. durable goods unexpectedly jumped in May, a sign companies are gaining confidence the recession is easing.

The 1.8 percent rise in bookings for items meant to last several years matched the previous month’s increase, the Commerce Department said today in Washington. Another report showed sales of new houses unexpectedly dropped last month, indicating foreclosures made existing homes more attractive.

Meanwhile over in Japan.



Japan exports fall 40.9 percent in May

Associated Press
7:10 AM PDT, June 24, 2009

TOKYO -- The slump in Japan's exports showed little sign of relenting in May, with auto exports to the U.S. down more than half, adding to doubts about a quick recovery from the global recession.

Exports from the world's second-largest economy plunged 40.9 percent from a year earlier, accelerating from a 39.1 percent fall in April, the government said today, as consumers overseas bought fewer of the country's cars, electronics and other mainstay exports.

reply to post by SLAYER69


Slayer
that is some good information, thanks.
You do seem to be pretty up on economics. Is it your opinion also that the recession may bottom out before the end of this year?