OECD says recession 'near bottom'

OECD says recession 'near bottom'

news.bbc.co.uk

The Organisation for Economic Cooperation and Development says the world economy is near the bottom of the worst recession in post-war history.

But it adds that recovery is likely to be "weak and fragile" for some time.

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The OECD also forecast a sluggish recovery would take place in 2010, but its expectation for flat output across the year was better than a previous prediction for a 0.2 per cent contraction.

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The downturn in economic activity had pushed up unemployment and reduced wage growth inflation.

The rate of unemployment is expected to grow to 9.7 per cent in 2010, double that seen just five years before.

news.bbc.co.uk
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[edit on 24-6-2009 by sunny_2008ny]

O O O O O O DOES anyone remember that the bilderberg conference said that they wanted the recession over sooner than later?