Wednesday, May 25, 2005
HELPFUL INVESTMENT GUIDE
Gloom over the eurozone economy deepened yesterday as a leading international think-tank sharply cut its growth forecast for the 12-nation bloc and issued a powerful call for urgent cuts in interest rates.
In the latest blow to hopes for European economic revival, the Organisation for Economic Co-operation and Development cut its forecast for eurozone growth this year to just 1.2 per cent — down from its previous 1.9 per cent projection.
The OECD has forecast that Australia’s current account deficit will narrow to under 5 per cent.
It has also predicted that GDP will grow to 3.4 per cent in 2006, due to a pick-up in exports, high levels of business investment and low corporate debt.
(Via Alan R.M. Jones)
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