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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who started this subject11/21/2001 12:37:46 AM
From: Davy Crockett   of 36161
 
World plunges into recession for first time in 20 years, says OECD

news.independent.co.uk

In its bi-annual economic outlook the organisation said output would fall 0.3 per cent in the second half of 2001, the first drop for 20 years. Growth would probably come in at 1.0 per cent both this year and in 2002, <marking the worst performance since the Second World War. However, the pace of recovery would pick up next year, it said, with a strong rebound late in 2002 paving the way for 3.2 per cent growth in 2003.

"The downward risks are substantial," it said. "A variety of adverse events could occur ... which would tend to aggravate present weakness and cast doubt on a speedy and robust rebound."

Regards,
Peter
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