Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

UK recession this year, OECD says

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Steve Schifferes
BBC NEWS
Tuesday, September 2, 2008

The UK economy is likely to fall into recession this year, according to the Organisation for Economic Cooperation and Development (OECD).

The Paris-based think tank predicts that the UK economy will shrink at an annual rate of 0.3% in the third quarter, and by 0.4% in the fourth.

According to the latest official figures, the UK economy did not grow at all in the second quarter of 2008.

(ARTICLE CONTINUES BELOW)


The working definition of a recession is two quarters of negative growth.

The gloomy outlook for the UK economy has pushed the pound sterling to its lowest level for two years against the euro.

  • A d v e r t i s e m e n t

Dark clouds?

The OECD forecast is the gloomiest yet for the UK economy by an official organisation, even gloomier than the forecast released by the International Monetary Fund (IMF) one month ago.

In its latest report, the OECD says that the UK economy will grow by just 1.2% for the whole of 2008, a sharp reduction in its earlier forecast of 1.8% made just two months ago, and less than the 1.4% predicted by the IMF.

FULL STORY CLICK HERE

This article was posted: Tuesday, September 2, 2008 at 11:26 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
Should Obama Be Impeached? See the rest on the Alex Jones YouTube channel.

Border Collapse: A Cold Blooded Political Takeover See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.