Recovery in developed economies will accelerate next year due to "substantial improvements" in financial markets and fast-growing Asian countries, but is likely to remain fragile, the Organization for Economic Cooperation and Development said Thursday as it doubled its 2010 growth forecast.
The Paris-based watchdog's chief economist, Jorgen Elmeskov, told a news conference that the recovery has been mostly driven by government stimulus measures and interest rate cuts. Such measures enabled the market to recover "considerably faster and stronger" than anticipated in the June economic outlook, he said.
Still, the recovery will remain modest next year, with the US and Japan outpacing Europe, the OECD report said.
The Jerusalem Post Customer Service Center can be contacted with any questions or requests:
Telephone: *2421 * Extension 4 Jerusalem Post or 03-7619056
The center is staffed and provides answers on Sundays through Thursdays between 07:00 AM and 14:00 PM and Fridays only handles distribution requests between 7:00 AM and 12:30 PM
For international customers: The center is staffed and provides answers on Sundays through Thursdays between 7AM and 14PM Israel time Toll
Free number 1-800-448-9291