G7 growth to weaken: OECD
December 10, 2007
Dec 11, 2007 -- /prbuzz/ --The Group of Seven (G7) industrial nations will see weakening economic growth, according to the latest report from the Organisation for Economic Cooperation and Development (OECD).

"October 2007 data indicate a weakening outlook for all the major seven economies," the OECD said in a statement.

The composite leading indicator for the G7 area fell from 99.8 in September to 99.2 in October.

Japan suffered the biggest fall of 1.6 points, compared to a 0.6 point slow down in the US and a 0.1 per cent fall in the European Union.

The 30 nations in the OECD will also see a moderate downturn, the six-monthly report found.

"Several shocks have hit OECD economies recently: financial turmoil, cooling housing markets and higher prices of energy and other commodities," the report said.

"2007 is set to become the fourth year of above-trend growth in the OECD area but activity is now moderating."

However, the major emerging such as China, India and Russia will continue to experience rapid growth, with the current global financial market turbulence a risk that was difficult to assess.

Further analysis of the G7 and OECD economies could be supplied by Aranca, an end-to-end provider of on-demand, custom investment, business and economic research.

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About the Press Release
London, Monday, December 10, 2007 -- ARANCA NEWSTRACK – (aranca)


 
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