Experts believe the recession is nearing an end


According to the Organization for Economic Cooperation and Development (OECD), the recession is going to bottom out this year. The Paris-based group expects the economies of its member countries to decrease by 4.1 percent this year, noting that only government rescue measures can stop an "even worse decline."

In March, the OECD forecast a 4.3 percent drop for the year -- making the latest revision the first upward forecast change in two years. The acting head of the OECD's economics department, Jorgen Elmeskov, is quoted by the Associated Press as saying, "A really disastrous outcome has become more of a remote risk." However, Secretary General Angel Gurria added that the recovery "is likely to be both weak and fragile for some time."