Signs of gathering strength in the US economy were not enough to stop the OECD from cutting its global growth forecasts on Wednesday as it warned the eurozone was set to fall further behind.
The OECD, a Paris-based organisation of mostly rich countries, forecast the global economy would grow 3.1 per cent this year and 4 per cent next year. This was a slightly gloomier outlook than its November predictions of 3.4 per cent growth this year and 4.2 per cent next year.
The forecast comes after the largest rise in US house prices in seven years and a surge in consumer confidence, bolstering hopes of recovery in the world’s largest economy.
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