Global economy slowing but recession unlikely says OECD
The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, a leading global economic group has said.
The Organisation for Economic Co-operation and Development (OECD) said the slowdown had been more "pronounced than anticipated".
As a result, it lowered its growth forecast for 2010 for the G7 leading economies to 1.5%, down from 1.75%.
It added the economic outlook was characterised by "great uncertainty".
"The uncertainty is caused by a combination of factors, but it is unlikely that we are heading into another downturn," said the OECD's chief economist Pier Carlo Padoan. Read more...
Categories: Global Recession Tags: economy, Global Recession, recession
Recession: What affect on the media industry
Has the recession affected you within the media industry?
I’m a few months away from completing my TV and Film production degree as part of Bournemouth University and for one of my last assignments I have to write a dissertation. The title of my dissertation is ‘Did the recent recession in the United Kingdom affect income and budgets in TV, Film and Video productions?’
If you are in the media industry and have an opinion about the recession and how it’s affected you or others then I would like to know about it? Whilst writing your comments it would benefit me if you could point me to websites that could back your statements up for evidence in my dissertation
Thank you for your time,
Bruce
Categories: uk Recession Tags: affect, media industry, recession
1991 recession
Britain has officially plunged into recession for the first time since 1991. But while there are many differences today, some things haven't changed much at all ...
Recent comments from the business minister, Baroness Shriti Vadera, referring to some "green shoots" in the economy immediately drew comparisons with Norman Lamont's "green shoots" blunder in October 1991.
The recession was officially declared in January 1991, after starting in the third and fourth quarters of 1990 – two consecutive quarters of contraction – mirroring the pattern this time round.
Unemployment has also followed a similar pattern. It started rising in February 2008 and is now close to 2 million. During the 1990s slump, unemployment first rose in April 1990 after falling for the previous 44 months, and went on rising for three years. Then, inflation was in double digits and interest rates had risen as high as 15%
From the guardian
Categories: Recession history Tags: 1991, recession