Wednesday, August 24, 2011

Growth Slows Across World's Strongest Economies

Max Clarke

GDP growth across the world’s most developed economies slowed over the second quarter of 2011 to reach just 0.2%, as continued unrest in the global financial markets threatens a second economic collapse.

The US economy increased its growth rate from 0.1% in Q1 2011 to 0.3% in the second, though the forecast had been for 0.5%. Economic growth in the world’s biggest economy serves as a barometer for the broader health of the global economy, and so significant a downward revision reflects the growing pessimism about the state of the global recovery.

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