The International Monetary Fund is now forecasting a global recession in the year to come. The worldwide outlook for economic growth has weakened severely over the past month. And, expectation that the situation will continue to worsen has prompted the IMF to predict a world recession, which, by its definition, would mean global growth at below 3-percent. While emerging economies are still expected to grow moderately, the IMF says advanced industrial economies will contract as a group for the first time since World War II. The slowdown is already drastically reducing demand for German goods - prompting export giants like BMW to take drastic measures.