O.E.C.D. Sees Bumpy Path to Recovery


China has helped to pull countries in the Organization for Economic Cooperation and Development back toward economic recovery, but the path to sustained growth will be bumpy, the association said Thursday in a cautious assessment of the global economy, The New York Times reported. While the world economy has come back from the edge of the abyss at which it stood early in the year, the O.E.C.D. said, efforts to repay debts by households, banks, companies “and, eventually, governments” will keep downward pressure on economic growth. As a result, it said, “unemployment is set to move higher and already-low inflation will be under further downward pressure. It is only some time down the line that the recovery will become sufficiently strong to begin to reduce unemployment.” Read more.