Global Economy

UN paints grim global economic picture (rediff.com)

16 May 2008

Warning that the world economy is now "teetering on the brink of a severe global downturn," the United Nations said it expects growth this year to be sharply lower at 1.8 per cent - nearly half of the 3.4 per cent growth estimated only three months ago.

Japan's economy grows briskly despite credit woes (Channel NewsAsia)

16 May 2008

TOKYO : Japan's economy grew at a faster than expected 3.3 percent annualised pace in the first quarter of 2008 despite a global credit crunch and US economic slowdown, official figures showed Friday.

World economy 'facing downturn' (Channel 4)

16 May 2008

The United Nations said the world economy was "teetering on the brink" of a severe downturn and would grow by only 1.8% this year. That is down from a global growth rate of 3.8% in 2007.