GDP Growth Forecasts Are Cut Around the Globe.

The article deals with the cut made by international organizations and central banks on growth forecasts for gross domestic products (GDP) around the globe in reports released on November 25, 2008, with the Organization for Economic Cooperation and Development (OECD). It notes that the cut was due to the economic downturn that will drag the U.S. and Japan into a protracted recession. It is expected by the OECD that combined GDP of its 30 members will decline 0.4% in 2009.