The OECD has predicted that this year will be the worst for the world's economy since 1982, and next year will see little improvement. The OECD's 30 members are expected to grow by just one per cent this year and 1.2 per cent in 2002.

Forecasts for British growth this year have been cut from 2.5 per cent to 1.9 per cent. But it's not all doom and gloom, the Express leads a rise in consumer spending with the banner "British shoppers defy the terrorists".