OECD says US fiscal impasse threatens widespread recession
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OECD countries will suffer recession as a group and emerging economies will see a downturn if Washington does not resolve its fiscal impasse, OECD chief Angel Gurria warned Thursday.
"We still see the probability of failing to raise the debt ceiling as low, but as the government shutdown drags on, the level of concern is ratcheting up," Gurria said. "If the debt ceiling is not raised – or, better still, abolished – our calculations suggest that the OECD region as a whole will be pushed back into recession next year, and emerging economies will experience a sharp slowdown," he added. (Reuters)
