| End of the Recession? |
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A recent report by the Organisation for Economic Cooperation and Development (OECD) suggests that the recession has reached a bottom. OECD, who represent the 30 most industrialised nations estimates that these economies would shrink by 4.1% this year. The OECD stated that recovery would be 'weak and fragile, and the economic and social damage caused by the crisis will be long lasting'. Zero growth is predicted for the UK economy in 2010 and output is expected to decline by 4.3% this year.
Output for the world economy as a whole is expected to decline by 2.2%. |