OECD Economic Outlook No. 86, November 2009: “The economic recovery now spreading across OECD countries is still too timid to halt the continuing rise in unemployment. The jobless rate is expected to peak in the first half of 2010 in the US, but it may not be until 2011 that unemployment begins to fall in the Euro area. The report says the recovery is tepid because economic activity is being held back by households and businesses repairing their finances and reducing their debts. With a subdued recovery and substantial spare capacity, inflation is projected to continue to fall well into 2010.”
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