"The UK economy is likely to fall into recession this year, according
to the Organisation for Economic Cooperation and Development (OECD).

The Paris-based think tank predicts that the UK economy will shrink at
an annual rate of 0.3%% in the third quarter, and by 0.4%% in the
fourth.

According to the latest official figures, the UK economy did not grow
at all in the second quarter of 2008.

The working definition of a recession is two quarters of negative
growth.

The gloomy outlook for the UK economy has pushed the pound sterling to
its lowest level for two years against the euro.

Responding to the OECD figures, Chancellor Alistair Darling said many
leading economies were suffering from slowing growth and the UK could
"get through" a difficult period with the right policies.

Dark clouds?

The OECD forecast is the gloomiest yet for the UK economy by an
official organisation, even gloomier than the forecast released by the
International Monetary Fund (IMF) one month ago.