| | |  Americas & Beyond | November 2008 
World in Recession
 The Real Network
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The Organization for Economic Cooperation and Development (OECD) forecast that economic output will shrink this quarter for the 30 market democracies that make up its membership.
The contraction is expected to continue until the middle of next year. That would be the first time since the mid 70’s oil crisis that the U.S., Europe and Japan have fallen into recession around the same time. Germany, Europe's largest economy, is the latest developed country to announce it has fallen into recession. |
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