OECD Predicts Recession for Largest EU Economy

Europe's leading economies appear to be heading back into recession, the OECD warned in its Interim Economic Assessment of G-7 nations, September 2012. The OECD anticipated contraction of the German economy and possible recession by the end of 2012. Euro-zone countries must act quickly to prevent a worsening downward spiral, the OECD said.

OECD: Press Release, 6.9.12: Economy: European recession slowing global economy, says OECD http://www.oecd.org/newsroom/economyeuropeanrecessionslowingglobaleconomysaysoecd.htm

OECD: What is the near-term global economic outlook? An interim assessment, September 2012 http://www.oecd.org/eco/economicoutlookanalysisandforecasts/Interimassessment6September2012.pdf

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