OECD lifts 2010 growth forecast for rich economies but says risks remain

Recovery in rich economies seen gathering pace

PARIS — Economic recovery in the world’s richest countries is accelerating thanks to a “substantial” rebound in world trade and fast growth in Asia.

That’s what the Organization for Economic Cooperation and Development says. The OECD is raising its 2010 forecast for the developed world to 2.7 percent from 1.9 percent.

The Paris-based group representing 31 wealthy countries warns however that Europe’s continuing debt crisis remains a threat and that the era of instability isn’t over.

It said Wednesday that serious risks including Europe’s sovereign debt crisis threaten the “relatively auspicious” economic environment.