This content is not available in your region

US economy to recover faster than Europe in 2013: OECD

Access to the comments Comments
By Euronews
US economy to recover faster than Europe in 2013: OECD

<p>The United States’ economy will recover faster than Europe this year, according to the <span class="caps">OECD</span>.</p> <p>It says stimulus policies will help the US grow by 1.9 percent this year.</p> <p>Stronger growth is forecast for Japan, after the government there rolled out new spending plans.</p> <p>The Paris-based think tank paints a less rosy picture for austerity-hit eurozone, which it reckons will shrink by 0.6 percent.</p> <p>That’s a far deeper contraction than the 0.1 percent that the <span class="caps">OECD</span> initially predicted six months.</p> <p>The organisation argues deep spending cuts, weak confidence and tight credit conditions are hampering Europe’s recovery.</p> <p>It says the European Central Bank should consider printing money to buy government bonds from the private sector as a means of rebooting the economy.</p> <p>The idea is that it would provide fresh financing to banks, which could then lend more cash to companies and individuals, boosting job creation and stimulating demand.</p>