Record decline follows a decline of 2.0% in the previous quarter
Signs of economic recovery appearing, but not yet in Canada
Risks of an even gloomier scenario outweigh the possibility of a quicker recovery
Largest fall since OECD records began in 1960
Slowdown spreads to non-OECD countries
OECD leading indicators signal further G7 weakness
Canadian government expected to move into deficit in 2009, 2010
The OECD area likely saw GDP fall for the first time in seven years, down 0.1% in the third quarter, the Organization for Economic Co-operation and Development reported Thursday.According to preliminary estimates, U.S. GDP fell by 0.1% in the third quarter, the first contraction since the third quarter of 2001. Japan’s GDP also declined by […]
Average unemployment rate in the OECD area forecast to climb to 6.9% in 2009
The international organization says rebuilding investor confidence is vital to helping the economy get back on track