{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='OECD presser on European economic outlook' data-url='/boclips/videos/5c54c016d8eafeecae148194' data-video-url='/boclips/videos/5c54c016d8eafeecae148194' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nOECD presser on European economic outlook\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Exterior of Organisation for Economic Cooperation and Development (OECD) building2. Close-up of flags3. Close-up of OECD sign reading (English) \"The crisis and beyond: for a cleaner, stronger, fairer economy.\" 4. Wide of people in...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Exterior of Organisation for Economic Cooperation and Development (OECD) building\u003cbr/\u003e2. Close-up of flags\u003cbr/\u003e3. Close-up of OECD sign reading (English) \"The crisis and beyond: for a cleaner, stronger, fairer economy.\" \u003cbr/\u003e4. Wide of people in foyer\u003cbr/\u003e5. Wide of news conference, pan right\u003cbr/\u003e6. Mid of Angel Gurria, OECD Secretary General:\u003cbr/\u003e7. SOUNDBITE: (English), Angel Gurria, OECD Secretary General: \u003cbr/\u003e\"We anticipate still for the year of 2009 a deep contraction in output, in general the OECD area at large is going to shrink by upwards of 4 percent.\"\u003cbr/\u003e8. Mid of media\u003cbr/\u003e9. Close up of man listening\u003cbr/\u003e10. SOUNDBITE: (English), Angel Gurria, OECD Secretary General: \u003cbr/\u003e\"World trade is set to fall by as much as 16 percent due to a host of economic influences. This is a very, very important indicator of the size, and the depth and the breadth of the problem we are facing today.\"\u003cbr/\u003e11. Wide of news conference\u003cbr/\u003e12. Mid of audience\u003cbr/\u003e13. SOUNDBITE (English) Jorgen Elmeskov, OECD acting economics department head:\u003cbr/\u003e\"Financial conditions have improved, and we assume that they will stay broadly unchanged through the rest of this year before gradually normalising in the course of 2010. That assumption could be too cautious.\"\u003cbr/\u003e14. Mid of Angel Gurria listening\u003cbr/\u003e16. Wide of Elmeskov speaking on big screen\u003cbr/\u003e17. Mid of Elmeskov's shadow \u003cbr/\u003eThe deepest global recession in more than 60 years is close to bottoming out, but recovery will be weak unless governments take further action to remove uncertainty over banks' balance sheets, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday.\u003cbr/\u003eIn its half-yearly economic outlook, the Paris-based organisation said it expects its member countries' economies to shrink by 4.1 percent this year, and said the only thing heading off an even worse decline was the economic rescue measures taken by governments.  \u003cbr/\u003eThat represented a slightly improved outlook compared to the OECD's last forecast, in March, of a 4.3 percent decline this year.\u003cbr/\u003eIt was the first time in two years that the OECD had revised its forecast upwards, Secretary General Angel Gurria said at a news conference at OECD headquarters in Paris.\u003cbr/\u003eHowever, he said world trade was still set to fall by up to 16 percent as a result of the economic crisis, which was an \"indicator of the size, and the depth and the breadth of the problem we are facing today.\"\u003cbr/\u003eOECD acting economics department head Jorgen Elmeskov gave a cautiously upbeat assessment about the future direction of the world's economy.\u003cbr/\u003eHe said financial conditions had improved and that the OECD assumed \"they will stay broadly unchanged through the rest of this year before gradually normalising in the course of 2010.\"\u003cbr/\u003eBut Gurria warned the recovery was likely to be weak and fragile for some time. \u003cbr/\u003eThe OECD now expects the 16 nation euro-zone economy to shrink by 4.8 percent this year.\u003cbr/\u003eIt forecast the US economy would shrink by 2.8 percent this year compared to 1.1 percent growth in 2008, while Japanese output is likely to contract by 6.8 percent. \u003cbr/\u003eThe OECD forecast a return to growth in all three regions next year, with overall growth across its membership expected to average 0.7 percent in 2010, according to the report.\u003cbr/\u003eThat also represented an improved outlook compared to the OECD's last forecast of a 0.1 percent contraction in the OECD area economy next year.\u003cbr/\u003eThe OECD urged countries to both start devising strategies to roll back their stimulus measures after the worst of the economic crisis has passed, while also continuing with measures to ensure a faster and more robust recovery.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' 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