The Global Economy Continues To Slow

European countries have entered a recession whose effects are now being felt globally, says the OECD. According to the assessment, presented in Paris on Monday, October 8, the Chief Economist Pier Carlo Padoan, "the annualized growth rate of the G7 economies is unlikely to exceed 0.3% in the third quarter of 2012 and 1.1% in the fourth quarter."

"The slowdown will continue if officials fail to address the main cause of this deterioration is the ongoing crisis in the euro zone," saidPier Carlo Padoan. 

Consequences of this recession, the slowdown in most major economies should continue, even if China is showing signs of stabilization and things are improving in the United Kingdom and Brazil.