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OECD Reduces Growth Outlook, Predicts 2011 ‘Soft Spot’

The Organization for Economic Cooperation and Development cut its global growth forecast for next year, predicting a “soft spot” as stimulus spending fades before investment spurs a revival in 2012.

The global economy will expand 4.2 percent next year instead of the 4.5 percent predicted in May, the Paris-based organization said today in its semi-annual Economic Outlook. Growth will recover to 4.6 percent in 2012, it said.