OECD Lowers Its Growth Forecasts
The Organization for Economic Cooperation and Development has revised downward its economic growth forecasts for most of its 25 member countries for this year and next.
The predictions were released at a news conference at the OECD, which is holding its 34th ministerial meeting today and Wednesday. A fuller report on economic forecasts will be issued in June.
For the OECD as a whole, the organization sees GDP growing by 2.7% in 1995 and 1996. That compares to December estimates of 3% and 2.9%, respectively.
The OECD predicted a general slowdown that would be gradual in the United States and Europe and severe in Japan.
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