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It now expects expansion within OECD countries to increase by 2.7 per cent this year and 2.8 per cent in 2011, news that may be welcomed by those carrying out stock market trading in the UK and elsewhere.
In November, the Paris-based body, which was established in 1961, had said growth would come to 1.9 per cent and 2.5 per cent over the two years.
Faster expansion in Asia was cited as one reason for the upward revision, with figures for Japan forecast to be three per cent for 2010 and two per cent for 2011.
However, secretary-general of the OCED Angel Gurria said the world economy is still facing "a crucial time".
Sovereign debt in the eurozone and elsewhere is still a serious risk and Mr Gurria said many of the OECD's 31 countries "need to reconcile support to a still fragile recovery with the need to move to a more sustainable fiscal path".
Posted by Greg Secker
