Signs of Moderate Recovery in the World Economy
The recession in the OECD area is projected to bottom out in the second half of 2009, a slow recovery in activity being projected to start towards the end of 2009, upturn trend which will gradually gather strength in 2009. There are, however, signs that the severity of the downturn is moderating, the actual prognoses indicating like possible for 2009 a growth of 0.7% in GDP at the level of OECD countries. A recovery already appears to be in motion in most large non-OECD countries, especially in China, Brazil, Russian Federation and India. In line with the world economy trend, the collapse in world trade in goods and services observed in the last quarter of 2008 intensified in the first quarter of 2009, but the trough in growth rates has likely been reached; positive quarterly growth rates are expected by the end of 2009.
Volume (Year): 1 (2009)
Issue (Month): 2 (June)
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