OECD Forecasts Growth in Second Half of 2010
Presenting economic forecasts for its member states in Berlin, the OECD predicted that significant growth in GDP would only start in the second half of 2010.
On the background of economic crisis, experts expect the possible increase of unemployment in the OECD area up to 8 million people. Current recession, which affects many Member States of the organization, was again compared at Berlin with the early 80’s.
Only from the second half of 2010 – respectively after three years from the beginning of the crisis in the United States – we can expect significant increases in gross domestic product in the industrialized countries. But, according to the same study, in the next two years will drop the inflation in most countries affected by the crisis.
Klaus Schmidt – Hebbel highlighted in Berlin that there are high chances that the current economic crisis to intensify during 2009 and actual dates, in the near future, to be more dramatic than in the OECD forecasts.
Regarding to Federal Republic, OECD studies showed a negative evolution of gross domestic product -0.8% for 2009 and a light increase to 1.2 percent in 2010. Quota of unemployment will reach 8.1% this year and 8.6% in 2010.