September 20, 2017 - 3:24 AM
PARIS - The Organisation for Economic Co-operation and Development has upgraded its economic growth forecasts for the 19-country eurozone following a run of upbeat news.
In a forecast update, the OECD thinks that the eurozone will grow by 2.1 per cent this year, 0.3 percentage point more than its previous prediction in June. That means the OECD is expecting eurozone growth this year to match the U.S. rate, which it left unchanged.
And next year, it's forecasting growth of 1.9 per cent for the eurozone, 0.1 percentage point more than previously thought, but below its 2.4 per cent projection for the U.S. The big three eurozone economies — Germany, France and Italy — all saw upward revisions.
Overall, the OECD is sticking with its global growth forecast of 3.5 per cent for this year.
News from © The Associated Press, 2017