First World Economic Contraction Since Great Depression Projected For 2009

World economy 'weakest since 30s'

The United Nations says the world economy faces its worst downturn since the Great Depression.

It expects world economic output to shrink by as much as 0.4% in 2009, due to a slump among developed countries - particularly the US and in Europe.

This would mark the world economy's first year of contraction since the 1930s, the UN said.

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