World's biggest economies 'grinding to a halt'

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http://www.independent.co.uk/news/business/news/worlds-biggest-economies-grinding-to-a-halt-2351245.html

Influential think-tank OECD today said the world's biggest economies, including the UK, are close to grinding to a halt as increased uncertainty hampers growth.

The UK economy is facing near stagnation if the OECD's central forecast of 0.3% annualised GDP growth in the final quarter of 2011 turns out to be correct. This would be a severe drop from 2.5% growth in 2010's third quarter.

The debate over fiscal policy in the United States, the eurozone debt crisis and the dwindling number of options Governments have to boost growth are driving both business and consumer confidence downward, the OECD said.

The OECD interim economic assessment is designed to check if projections made in its last economic forecast are on track. In May, the body downgraded its estimate for UK GDP growth in 2011 to 1.4% and 1.5% for 2012.

[Demeter]

1. Uncertainty? No...

Parasitical draining of the lifeblood of the world by banksters, yes.

[xchrom]

2. well said...nt

[phantom power]

3. recommend