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PARIS -- The global economy is not doing as bad as previously expected, especially in the United States and China, but has still suffered an unprecedented drop due to the coronavirus pandemic, an international watchdog said Wednesday.

The Organization for Economic Cooperation and Development said in a report that the world's gross domestic product is projected to decline by 4.

5% this year - less than the 6% plunge it had predicted in June.

The global economy is expected to rebound and grow by 5% next year, the organization said.

Yet the OECD notes that its outlook is "subject to considerable uncertainty" as the pandemic continues, and assumes that "sporadic local outbreaks will continue" and a vaccine will not be available until late in 2021.

The OECD upgraded its forecast for the U.S. economy, anticipating a contraction of 3.8% this year instead of a plunge of 7.3% forecast previously.

China is expected to be the only country in the group of 20 most powerful economies to grow this year - by 1.8%, instead of a drop of 2.6% previously projected.

The OECD cut its forecasts for India, Mexico and South Africa.

The Paris-based organization, which advises developed countries on economic policy, urged governments not to raise taxes or cut spending next year "to preserve confidence and limit uncertainty." Fiscal and monetary support for the economy need to be maintained, it said.

"Everything needs to be done to strengthen confidence," OECD Chief Economist Laurence Boone told a news conference. "That is really, really key to the recovery and to make it faster and larger."

Governments will especially need to keep helping people to find jobs and support investment, she said. "So the first message we want to send is do not repeat the mistakes of the past, do not withdraw the fiscal support too early."

News Source: abc7chicago.com

Tags: economy business economy coronavirus u s world china unemployment jobs

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Colorado Doctors Unsure Of Bad Air Qualitys Long-Term Impact On Health

DENVER (CBS4) — Smoke from wildfires around the state have been plaguing Denver air for weeks. Sore throats, coughs and stinging eyes are symptoms many people have noticed on hazy days, but the impacts of long term exposure are a mystery.

Dr. Anthony Gerber, a pulmonary specialist at National Jewish Health, says the long term effects of poor air quality in Denver are not clear. However, in the short term, he says these smoky conditions lead to greater risk of getting a viral infection.

(credit: CBS)

“How that translates to COVID-19, we don’t know, but we do think in general your risk of getting sick or having other things happen are higher on these days when there’s these particles in the air,” said Gerber.

He says the masks we wear to prevent the spread of coronavirus do virtually nothing to protect us from the smoke we’re inhaling outdoors. After weeks of hazy skies, many have learned to adjust.

(credit: CBS)

“You’re a little sorer, because you’re not getting as much oxygen into your body. It makes it hard to breathe, but we suffer through it,” said Louis Rodriguez, a runner in the Denver area.

The Colorado Department of Public Health and Environment has issued an Air Quality Health Advisory for 27 counties last week. Children and people with preexisting respiratory issues are more at risk than people like Louis, but many aren’t aware of the dangers they could be breathing in.

“The term of a wildfire is a bit of a misnomer because a lot of them are burning towns, they’re burning cars and other combustible elements. A lot these of these wildfires, we just don’t know what’s burning in them,” said Gerber.

With climate change, Gerber says this poor air quality is something we’ll have to get accustomed to as our new normal.

(credit: CBS)

CDPHE recommends everyone living within the advised area to limit outdoor activities particularly when smoke is thick or becomes thick. The health department also requests a reduction in driving gas or diesel vehicles whenever possible to lessen the impacts on air quality.

RELATED: More Structures Damaged As Cameron Peak Fire Grows In Colorado History Book

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