The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the Organization for Economy Cooperation and Development (OECD) said, adding that fighting inflation should be policymakers’ top priority. National outlooks vary widely, although Britain’s economy is set to lag major peers. “We are not predicting a recession, but we are certainly projecting a period of pronounced weakness,” OECD head Mathias Cormann told a news conference to present the organisation’s latest Economic Outlook.
