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The outlook for the global economy looks set to remain gloomy for most of 2009 according to a leading index released overnight by the OECD.
According to the index there is no sign of a global recovery ahead with leading indicators pointing to a substantial slowdown among most of the 35 countries assessed for the coming six month period.
While it is hard to anticipate what impact the deepening global crisis will have on Australia, our economy looks set to weaken further with the OECD’s index for Australia falling another 0.5 points.
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