UK 'will enter recession this year'
Updated on 02 September 2008
The UK economy will fall into recession during the second half of this year, a think-tank forecast on Tuesday.
The Paris-based Organisation for Economic Co-operation and Development (OECD) predicted that the UK economy will shrink 0.3% in the third quarter, and by 0.4% in the fourth. The definition of a recession is two successive quarters of negative growth.
According to official UK data released last month, the economy came to a standstill during the second quarter of 2008.
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