The Organisation for Economic Co-operation and Development (OECD) came bearing good news for the global economy, except -that is- for the UK. The OECD expects global growth to rebound more quickly than it initially forecasted, but added that the UK economy would contract by 4.7% this year, worse than its previous expectation of 4.3%, and worse than the 4.5% decline the U.S. Treasury anticipated.
Unfortunately, this development will not allow an overly comfortable experience for Britain’s Finance Minister, who must meet his G20 counterparts in London soon.
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