For its 30 member countries, rich nations including the US and UK, it has nearly trebled its growth forecast to 1.9% for next year, from 0.7%. However, it has warned developed nations to expect growth to be modest for some time to come.
The main danger for rich countries is unemployment, according to the OECD's economic outlook. In the US, people are expected to continue to lose their jobs at a faster rate than new ones are created until sometime in the first part of next year.
For the European Union, the picture is even worse. Unemployment may continue to rise in that region until 2011.