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OECD says trade a key factor behind growth pickup

OECD says trade a key factor behind growth pickup

The Organisation for Economic Cooperation and Development says economic growth in the world's most developed economies is growing at a faster pace this year than it previously predicted, partly because of a marked pick up in global trade.
The Paris-based OECD says Thursday that the economies of its 33 member countries would likely grow a combined 2.7 percent in 2010 after shrinking 3.3 percent in 2009. It predicts growth in the OECD in 2011 of 2.8 percent.
It says strong growth in developing countries, notably China, will shore up the recovery.
However, it says risks to the global recovery have increased, largely because of government debt issues. Ireland has become the latest country to be engulfed by investor worries about its massive debt burden.


Updated : 2021-10-19 08:26 GMT+08:00