U.S. recession to end this year, OECD predicts

06/24/2009 | Reuters

The Organization for Economic Cooperation and Development predicted that the U.S. recession will bottom out this year, but the group warned that recovery will be weak. "In this environment, a considerable degree of economic slack, especially in the labor market, is likely to persist ... bringing inflation to very low rates," the OECD said in a report on global economic conditions. The group estimated that economic output will fall 2.8% this year but expand 0.9% next year.

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