BREAKING NEWS

Now Reading:

OECD calls for stronger Eurozone growth, slashes forecast


Business

OECD calls for stronger Eurozone growth, slashes forecast

In just four months since its last May forecast the OECD has changed its forecast for the Eurozone, slashing its growth figures for 2014 to just 0.8%, and suggesting 2015 will be little better, at 1.1%.

The OECD has also revised American growth down but it remains much stronger than Europe’s anemic progress.

The organisation is calling for the ECB to announce a much more aggressive financial stimulus package to ward off the risk of deflation in a subdued euro zone and boost growth ahead of the G20 meeting in Australia later this week.

The US is likely to echo the OECD’s call at the G20.