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OECD's Economic Outlook released
According to the latest Economic Outlook released by the OECD last week, economic activity in OECD countries is expected to gradually pick up steam over the coming two years, with GDP across OECD countries projected to rise by 2.3% in 2011 and 2.8% in 2012.
However, the OECD cautions that the recovery will remain uneven and the rate of unemployment will continue to be high.
Strong growth in developing countries, especially China, will play a key role in supporting the global recovery.
China's economy is forecasted to expand at a robust 9.7% in 2011 and 2012, lower than the 10.5% growth expected for this year.
Faster domestic demand in China is expected to offset a renewed slowdown in exports over the next two years as domestic consumption takes on an increasingly important role as a key driver of the Chinese economy.