OECD cuts growth forecasts for U.S., euro zone
LONDON (MarketWatch) — The Organization for Economic Cooperation and Development cuts its forecast Wednesday for economic growth in the United States and the 15-nation euro zone. Overall, the organization sees growth slowing across its 30 member nations to a pace of 1.8%, compared to its December forecast of 2.3%. Growth in 2007 was 2.7%. The OECD sees growth in the United States slowing to 1.2% in 2008 and 1.1% in 2009, while the pace of growth in the euro-zone is seen slowing to 1.7% in 2008 and 1.4% in 2009. U.S. growth was seen at 2.2% in 2007, while the euro zone grew by 2.6%. Japan is forecast to slow to 1.7% growth in 2008 and 1.5% in 2009 after expanding by 2.1% in 2007.
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