The Paris-based Organization for Economic Development and Cooperation (OECD) published a grim assessment Thursday of the United States economy, saying it was close to recession. However, the OECD suggested European economies will likely fare better this year. Lisa Bryant has more for VOA from the French capital.
The OECD downgraded its estimates for U.S. growth to just 0.1 percent for the first quarter of this year. Overall, the organization predicted the American economy would grow just 1.4 percent in 2008, far below its previous estimate in December of a two percent growth.
The OECD is an international economic research organization based in Paris.
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