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Internet economy could shrink in 2009: OECD
Paris (AFP) Dec 22, 2008 The Internet economy could shrink in 2009 because of the worldwide downturn, the OECD warned Monday in a report that forecast contraction of the semiconductor industry and cutbacks by corporate customers. The Paris-based Organisation for Economic Co-operation and Development said that "with the outlook for the global economy worsening and business and consumer confidence plummeting, growth will remain flat or decline in 2009." The report also forecast growth of four percent in the IT industry this year and said some sectors such as software, outsourcing, Internet sales and infrastructure investments would "weather the storm better than others." The report said the semiconductor industry -- seen as a leading indicator for the information technology sector -- would fall nearly six percent in 2009 after weak growth of 2.2 percent in 2008. Related Links The Economy
China Slashes Social Security Charges; Unshackles Local Property Markets
Beijing (AFP) Dec 22, 2008Chinese firms can reduce contributions to various employee insurance schemes next year in a bid to stem mounting job losses amid the global economic crisis, the government said Monday. |
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