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Report: Global Economy Grows Faster

   VOA News 26 May 2010
   A  man  walks  past  the screen shows the Hang Seng Index at a bank in
   Hong  Kong.  World stock markets and the euro tumbled Tuesday on fears
   Europe's debt crisis will cause a prolonged slump in the region

Photo: AP

   A  man  walks  past  the screen shows the Hang Seng Index at a bank in
   Hong  Kong.  World stock markets and the euro tumbled Tuesday on fears
   Europe's  debt  crisis  will cause a prolonged slump in the region and
   weaken the outlook for global growth, 25 May 2010.

   A  new report says the industrial world's economy is recovering faster
   than  expected,  but  still  faces  risks from the debt crisis and the
   possible overheating of emerging economies.
   The  Organization  for  Economic  Cooperation  and  Development, which
   includes  the  world's  30  richest nations, says its member economies
   will grow 2.7 percent this year, which is eight-tenths of a percentage
   point faster than earlier predictions.
   The  OECD  says  the nations that use the euro will expand more slowly
   (1.2 percent).  The report's authors call on European nations to take
   "bolder" measures to cope with debt and other issues.
   The report also says trade flows are rising again and strong growth in
   China  and  other  emerging nations is helping to pull other countries
   out  of  recession.   But  the  OECD cautions that emerging economies
   should be careful to avoid the threat of inflation.

   Some information for this report was provided by AP and AFP.

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