Network News

X My Profile
View More Activity





Morning briefing: OECD says global recovery slowing faster than expected

spain.jpg
Union members holds union flags during a protest against labor reforms in Madrid. Spanish lawmakers gave final approval to hotly disputed reforms, which could make it easier and cheaper for companies to fire workers but deemed essential for slashing the soaring jobless rate and reviving the fragile economy. Banner reads "Strike."

(Photo Credit: Dominque Faget/AFP/Getty Images)

1. The global economic recovery is slowing faster than anticipated, the Paris-based Organization for Economic Cooperation and Development said in its latest economic assessment. The OECD cut its growth forecasts for the second half of the year, estimating that the Group of Seven industrialized countries are predicted to grow by 1.5 percent on an annualized basis.

2. Japan announced it would sign a free trade pact with India that will end tariffs on 94 percent of goods that are traded over 10 years.

3. Spain gave the green light to labor market reforms that will help manage its deficit, a problem that prompted fears of another Greek-style debt crisis.

4. The Bank of England held interest rates steady at a record low of 0.5 percent as it has for the past year and a half.

5. The European Central Bank said in its monthly bulletin that the eurozone countries should be ready to "accelerate consolidation where necessary to correct their excessive deficits."

6. The Bank of Korea held rates steady for the second consecutive month.

7. The Organization of Petroleum Exporting Countries, which supplies 40 percent of the world's oil, cut its outlook for demand for crude in 2011. OPEC said in its monthly report that the world will need 28.8 million barrels of oil a day from its members next year, about 100,000 barrels a day less than in last month's report.

By Ariana Eunjung Cha  |  September 9, 2010; 8:20 AM ET
Categories:  *Morning briefing  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Elizabeth Warren pays another visit to White House
Next: U.S. trade gap contracts sharply in hopeful sign for economy; jobless claims fall

Comments

While economists and business leaders remain hopeful for a speedy recovery, a new study just released on Sept. 9, 2010 of seasoned Harvard Business School graduates reveals that it could take up to five years before the economy has achieved noticeable improvement. On the brighter side, approximately two-thirds believe the economy has stabilized or is improving. More at:
www.ZenaisMarketing.com

Paul D. Feldman

Posted by: Anonymous | September 9, 2010 12:08 PM | Report abuse

While economists and business leaders remain hopeful for a speedy recovery, a new study just released on Sept. 9, 2010 of seasoned Harvard Business School graduates reveals that it could take up to five years before the economy has achieved noticeable improvement. On the brighter side, approximately two-thirds believe the economy has stabilized or is improving.

More at:

www.ZenaisMarketing.com

Paul D. Feldman

Posted by: Paul D. Feldman | September 9, 2010 12:09 PM | Report abuse

Post a Comment

We encourage users to analyze, comment on and even challenge washingtonpost.com's articles, blogs, reviews and multimedia features.

User reviews and comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions.




characters remaining

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company