US to lead west out of recession, OECD predicts

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The world's developed countries are sliding into a protracted recession, the west's leading economic thinktank said today. But while output is expected to contract next year, the US economy is predicted to lead the way towards recovery.

The Paris-based Organization for Economic Cooperation and Development (OECD) said that gross domestic product for its 30 member countries would drop by 0.3% in 2009.

It forecasted that the US economy would contract next year by 0.9%, Japan's by 0.1% and the eurozone by 0.5%.

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The organisation said that the average unemployment rate in the OECD area, estimated at 5.9% this year, is expected to climb to 6.9% next year and reach 7.2% in 2010.

http://www.guardian.co.uk/business/2008/no...n-globaleconomy