The Outlook for the World Economy Worsens

Fresh evidence of the deepening slowdown came from around the world, Wall Street Journal reports. Euro-zone data Tuesday showed inflation at 0.6% in Europe’s single-currency area for the year through March, the lowest level since official records began in 1996. The Organization for Economic Cooperation and Development [OECD] now estimates a decline in global output this year of 2.75%, the first shrinkage since World War II. World trade is expected to fall more than 6%.

“The world economy is in the midst of its deepest and most synchronized recession in our lifetimes,” OECD chief economist Klaus Schmidt-Hebbel wrote in the report. The OECD projected unemployment in 30 industrialized countries will jump to near double digits, from 6% last year. [WSJ]

Jasper - The Real Deal!

Risk Our Money Not Yours | Get 50% Off Any Account!

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.