The United Nations says in a serious recession in the global economy edge.

The United Nations recently published mid-year economic forecast report, the edge of the global economy is in a severe recession, forecast to grow by only 1.8% this year, far below last year's 3.8%, while next year's economy is still weak, only a slight increase of 2.1% growth rate .. .<P Style=MARGIN: 0px align=center target=_blank> the U.S. property market and the financial industry is the culprit </ P> <P style=MARGIN: 0px target=_blank> </ P> <P style = MARGIN: 0px target = ._blank> (http://finance.) drag on the economy of the United Nations will spearhead the United States continued to worsen in the first quarter of the mortgage and financial sectors, Outlook 2009, which will become the main cause of drag on the world economy. .Developing countries will also be affected, compared with last year's strong 7.3% growth forecast next year, growth rates were 5% and 4.8%. .</ P> <P style=MARGIN: 0px target=_blank> </ P> <P style=MARGIN: 0px> economists said the United Nations, the United States take the lead caused by falling house prices, depreciation of the dollar, persistent global imbalances, oil and .issues such as soaring commodity prices, deepening the credit crisis, both developed and developing countries pose a major crisis. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> However, the final figures for this year's economic growth was mainly depending on the latest developments in the United States, if the sub-prime crisis on developing countries .deepen the global economic growth this year may also be reduced to 0.8%. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> United States has adopted policies such as interest rate cuts and tax rebates, if consumer spending to stimulate enterprise and banking sector and restore confidence in the global economy .growth of only 2.8% this year, compared to 2.9% next year. .The report even predicted the U.S. economy plunged by 2.2% last year to a negative 0.2% this year, next year only a slight rebound to 0.2%. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> report said: "The current controversy is the extent of how deep the crunch period will be long. The property market continues to test a low ., the credit crisis deepened, the indicators are vaguely see recession will occur. "cited in the report a number of data, strongly suggests that" real estate activities until next year to stabilize. " .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> As for other developed countries, the United Nations estimates Japan's economic growth this year from last year's 2.1% to 0.9%; Western Europe will also be .from 2.6% to 1.1%. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> United Nations report said China will be slowdown in exports, continued tightening of monetary policy, RMB appreciation and rising labor costs and other factors .impact. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px align=center> inflation Eastern European countries, was heavily hit </ P> <P style=MARGIN: 0px> </ P> .<P style=MARGIN: 0px> despite slowing global economic growth this year, but this year the UN estimated that global inflation will accelerate the growth of 3.7%. .The report notes that the recent surge in commodity prices and rising oil prices is inflationary and the main cause of wage increases. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> is being held in Kiev, Ukraine the EBRD annual meeting also issued a statement saying 18, the current inflation rate in many Eastern European countries .has reached double digits, which is the most pressing issues facing the region. .If not properly deal with the Eastern European countries will face a price - wage increase in the risk of a vicious cycle. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> the bank expects economic growth in Eastern Europe this year from 7.3% in 2007 to 6%. .But by the oil and gas industry to promote the rapid growth of the Russian economic growth this year expected to reach 7%. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> EBRD was established in 1991 and headquartered in London. .The bank's role is to help and support to Eastern Europe, Central Europe transformation to a market economy. .</ P>.