World economy switches engines as US shudders: OECD
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The U.S. economy is running out of steam but Europe's resurgence and Asia's awakening will prevent the world's economy from derailing as it did after the stock market crash of 2000, the OECD said in a report on Tuesday.
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Increasing state ownership is a "step back" for the Russian economy and threatens growth, the OECD warns.
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World stocks tumbled on Monday as fears gripped investors that a sliding U.S. economy would drag others down with it.
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China, Japan and North America will pull the global economy forward over the next two years despite headwinds thrown up by high oil prices and tenacious deficits, the OECD predicted.
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For quite sometime now, global economy has been under a lot of pressure. The war in Iraq, the US current account deficit and resulting falling dollar, oil deficit have all contributed to a slowdown in the global economy.
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The OECD says the levels of inflation in the eurozone, Japan and the US do not justify further interest rate rises.
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Volatile trading dogged world stock markets on Friday ahead of a key announcement from US President George W. Bush aimed at stimulating the battered US economy.
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The US economic outlook has suddenly darkened in the wake of data showing a stalling of the job growth machine, raising risks that a housing slump will lead to a full-blown recession, analysts say.
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The soaring cost of oil has hit global economic growth, although world&#39;s major economies should weather the storm of price rises, according to the OECD.
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PARIS  - China, Japan and North America will pull the global economy forward over the next two years despite headwinds thrown up by high oil prices and tenacious deficits, the OECD predicted.
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Top world finance ministers warned Saturday that the global economy faces growing threats from a US housing slump and credit crunch, urging banks to come clean on their subprime loan losses.
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More than half of the world's market cap now sits outside the United States.
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Signs of shaky economies in France and Germany have sharpened worries about Europe's less-than-robust recovery &#151; and underscored the struggle to shake up regulation-clogged economies in countries that use the euro.
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Europe and the United States kept up a war of words over the sliding US dollar at a G20 meeting of rich and developing nations, blaming each other for
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The Organization for Economic Co-operation and Development (OECD) predicts global economic growth to be at 3.6% in 2004. The OECD lowered its forecast in the wake of a rise in oil prices and drop in consumer confidence.
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Global stock markets tumbled on Friday on fears that the US economy was facing a sharp slowdown as the first monthly fall in employment in four years made an interest rate cut this month all but certain.
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Looser regulation abroad poses risks to American investors while leaving U.S. stock markets at a new competitive disadvantage.