OECD sees Europe joining U.S. recovery, emerging markets sluggish

Tue Sep 3, 2013 5:00am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* OECD trims U.S. growth, raises French and German outlooks

* Slowing emerging economies seen weighing on global growth

* Fed's tapering plans appropriate, ECB told to stay alert

By Leigh Thomas

PARIS, Sept 3 (Reuters) - Led by firm U.S. growth, the outlook is gradually improving for advanced economies while even crisis-weary Europe is at last joining the recovery, the OECD said on Tuesday.

Nonetheless, a slowdown in many emerging economies meant that global growth would remain sluggish, the Organisation for Economic Cooperation and Development said.

"The bottom line is that advanced economies are growing more and emerging economies are growing less," OECD chief economist Pier Carlo Padoan told Reuters.

Among major economies, the United States would lead the recovery with growth this year of 1.7 percent, the think tank said, trimming its estimate from a May forecast of 1.9 percent.

Boosted by massive monetary stimulus from the central bank, Japan was seen on course for growth this year of 1.6 percent, unchanged from the OECD's May forecast.   Continued...