OECD calls US dip a blip, but chops world growth forecast

It predicted the world economy would grow at a rate of 3.1 percent this year, down from the 4.0 percent increase it projected in March.

Morgan Stanley cuts global growth forecasts

Morgan Stanley slashed its global growth forecast for 2011 and 2012, saying the US and the euro zone were "dangerously close to a recession", and criticised policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.