OECD slashes US growth forecast

[tpsbmam]

Source: BBC News

The US economy is on the brink of recession, according to the Organisation for Economic Co-operation and Development (OECD).

The OECD has slashed its growth forecast for the US economy and hardly expects it to grow at all in the first six months of 2008.

But the OECD says it is "premature" to say the US is in recession.

Among countries that use the euro, it raised its growth forecast for the first quarter from 0.4% to 0.5%.

.....

The research group said the US economy is, "essentially moving sideways, if not contracting outright."

Read more: http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/7306791.stm

[kenny blankenship]

1. 2008 budgeting projects 2.7% GDP growth -- and also a $410 billion deficit

Wonder how much bigger the enormous deficit will turn out to be when that 2.7 % growth has shrunk to .5% or worse?

[H8fascistcons]

2. Help Put the nail in the Coffin America...

Hurry, run out and buy more cheap junk from China ensuring no American was employed by your purchase, then wonder why the job market is so poor and our trade deficit is so high... Last week Bill Gates was lobbying for more H1-B visas for India, you can start by supporting Gates and buying his made in China X-Box, how about an Apple made in China I-Phone or I-Pod? Don't stop now, only a few more years of this selfishness and we can have another 1929..

[Supersedeas]

3. it's only a recession when the Wallstreet Bimbos call it a recession