OECD: Recession “Near Bottom”
The Organization for Economic Cooperation and Development (OECD) said today that the world-wide recession is near the bottom; the recovery however, will remain “weak and fragile” for some time yet. More
UK Recession Worse Than Predicted
The recession in the UK is still expected to end later this year, but previous predictions of a return to growth next year are now being questioned. The latest OECD projections suggest that Britain’s economy will experience no growth at all in 2010 with 2011 now being the earliest that the UK can expect an increase in the economy. More
US Durable Goods Orders Increase in May
For the second month in a row, orders to US factories increased in May, rising 1.8 percent from April. This result was somewhat unexpected as economists had predicted a 0.6 percent decrease. More
Swiss Franc Falls on Devaluation Speculation
The Swiss franc dropped against the euro and the dollar on speculation that the Swiss National Bank sold the “swissy” in a bid to deliberately devalue the currency. The Swiss franc has gained sharply in recent months making Switzerland’s exports more costly and this has caused export revenues to decline. More
