OECD sees weak growth view in eurozone
Print Edition
THE OECD saw a weak outlook for growth in the eurozone, especially in Germany, yesterday when its index of leading economic indicators showed stable growth elsewhere.
This latest signal of gloom for the eurozone came the day after the International Monetary Fund lowered its forecast for growth in the 18-member single currency area.
“In Europe, signs are emerging of a loss of growth momentum in the euro area,” the Organization for Economic Cooperation and Development said.
Its latest composite leading indicators, CLIs, which it calculates monthly to show trends in economic activity, point to a slowdown in pace in Germany and Italy, with France stable.
On Tuesday, the IMF cut its eurozone growth forecast to 0.8 percent and warned the single currency bloc faces a long period of sluggish activity and dangerously low inflation which the European Central Bank must tackle.
Earlier this week Germany reported a 5.7-percent slump in August factory orders and a 4 percent drop in industrial output.
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