Published on Voltairenet.org / Indicators, March 25, 2008.
Since the international insurance crisis, which started following the crisis of the real estate mortgage in the U.N., economists continue to decrease their expectations and estimations with regard to the economic growth rate. In its latest report, the Organization of Economic Cooperation and Development Has decreased its expectations in relation with the American economic growth rate, pointing out that it will achieve in the first and second quarter 0,1% only.
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The organization has expected also that the Euro zone to achieve a growth rate estimated at 0,5% in the first quarter of this year, without achieving any improvement in the second quarter. As for Japan, the organization has expected the Japanese growth rate to rise by 0.3 % in the first quarter, whereas it expected a growth rate of 0.2% in the second quarter.
Despite the Euro Zone and Japan have gotten benefit of the decline of the exchange rate of the American Dollar pposite to the Euro and the Yen, yet the rise of fuel prices and basic materials are additional pressing factors on the incomes of individuals in those countries.
1): Syria Studies the Establishment of A Commission for Combating Monopoly and Stimulating Competition: … (full text).