OECD doubles growth forecast

PARIS: The Organization for Economic Cooperation and Development (OECD) doubled its growth forecast for the leading developed economies next year and predicted a further acceleration in 2011 as China and other emerging countries power a global recovery.

The combined economy of the group's 30 member countries will expand 1.9 percent next year and 2.5 percent in 2011, the Paris-based organization said in a report yesterday.

Output will contract 3.5 percent this year. The OECD, which advises members on economic policy, forecast 2010 growth of 0.7 percent in June.