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GDP to Plummet 4.3 Percent Across OECD Countries in 2009 as Unemployment Climbs Sharply

added: 01-04-2009

Economic activity is expected to plummet by an average 4.3 percent in the OECD area in 2009 while by the end of 2010 unemployment rates in many countries will reach double figures for the first time since the early 1990s, according to the OECD’s Economic Outlook Interim Report.

World Bank Supports Refocusing Anti-Crisis Policy On Households In Russia

added: 01-04-2009

Russia is better positioned to weather the worldwide recession than many countries given its prudent fiscal policies, and should now focus increasingly on protecting poor and vulnerable people as growth decelerates more rapidly than expected, according to the Russian Economic Report 18.

Development Aid at its Highest Level Ever in 2008

added: 01-04-2009

In 2008, total net official development assistance (ODA) from members of the OECD’s Development Assistance Committee (DAC) rose by 10.2% in real terms to USD 119.8 billion. This is the highest dollar figure ever recorded. It represents 0.30% of members’ combined gross national income.

Americans Continue to Decrease Spending on Entertainment and Eating Out

added: 31-03-2009

The Obama Administration is focused on trying to stimulate the economy and is actively encouraging spending. Americans, however, are not that inclined to spend and are still decreasing the amount they will be spending on eating out and entertainment.

China: Economic Expansion Will Slow, Rebalancing Key to PRC's Future Growth Prospects

added: 31-03-2009

Economic expansion in the People's Republic of China (PRC) will slow to 7% in 2009, but decisive action by the government to support faltering growth through expansionary fiscal and monetary policies should allow the economy to recover to 8% in 2010, says the Asian Development Bank (ADB) in a major new report.

Public Favors 36% Cap On Consumer Loans

added: 31-03-2009

A CRL survey published today finds high levels of support for an annual interest rate cap on consumer loans of no higher than 36 percent. Three out of four Americans with an opinion think that Congress should cap interest rates at some level, and 72 percent think that level should be no higher than 36 percent.

India's Growth to Slow, Sustainable Stimulus Measures Needed

added: 31-03-2009

India's economic growth will slow to 5% in 2009, down from 7.1% in 2008, but should speed up next year as the global economy recovers and lower local interest rates spur private investment and manufacturing, the Asian Development Bank (ADB) says in a new major report.

Economic System Needs "Major Changes"

added: 31-03-2009

Major reform of the international economic system is needed in order to solve the current crisis, according to a new global poll of over 29,000 people carried out for BBC World Service.

Fitch: Continued Deterioration In Australian Mortgage Delinquencies

added: 31-03-2009

Fitch Ratings said in its latest report that Australian mortgage delinquencies had worsened through Q408, and is expected to continue through Q109 due, in part, to the seasonal effect of Christmas credit spending.

Asia Needs to Rebalance Its Growth to Endure the Global Downturn

added: 31-03-2009

Developing Asia should rebalance growth to endure the global crisis and boost its resilience to large external shocks in the long run. The Asian Development Outlook 2009 (ADO 2009)says that the ongoing global financial and economic crises have underlined the risks of growth that is excessively dependent on external demand.

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