The US economy is likely to face a “quite significant” slowdown this year because of the fallout in its subprime mortgage market, which warrants the US Federal Reserve cutting interest rates, the Organisation for Economic Co-Operation and Development said on Wednesday.
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Scheherazade Daneshku analyses an OECD report which suggests market turmoil and sub-prime worries will curtail world economic growth
Presenting its mid-point assessment between its spring and autumn Economic Outlook projections for the world’s 30 richest countries, the Paris-based think tank said prospects for the world economy were: “clearly less buoyant and more uncertain” than in its May forecasts.
