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OECD: Concern for global economic growth, jobs
Nov 18, 2010, 11:27 GMT
Paris - Global economic activity is slower than expected, the Organisation for Economic Cooperation and Development said Thursday in its half-yearly report, citing sovereign debt problems, trade imbalances and weak job growth.
The think-tank of the industrialized countries said it expected global economic growth to stand next year at 4.2 per cent, a downgrade from the previous estimate of 4.5 per cent.
The 33 OECD countries would see growth of 2.3 per cent next year, as against the organisation's previous estimate issued last June of 2.8 per cent.
Among others, US growth in 2011 is now projected at 2.2 per cent, sharply down from the OECD's last projection of 3.2 per cent.
The eurozone group's economic rise next year will be 1.7 per cent, down a fraction from the last estimate of 1.8 per cent.
Unemployment for the OECD zone is expected to remain above an 8 per cent average until 2012.
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