Economic recovery loses steam in developed countries: UNCTAD

UNCTAD Report 2011

Economic recovery in developed countries is losing steam, according to the UN Conference on Trade and Development (UNCTAD).

In its Trade and Development Report 2011, released on Tuesday, UNCTAD says that after a rapid post-crisis recovery, the world economy is slowing down.

The agency says that growth was about 4 per cent in 2010 but this year it is around 3 per cent.

UNCTAD economist, Alfredo Calcagno, told Derrick Mbatha that economic growth in developing countries is stronger than in the developed economies.

Duration: 3'50

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