Economic Growth

OECD Upgrades Germany, France, UK Economic Outlook, Downgrades US

getting optimistic-ish

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The Organization for Economic Cooperation and Development on Tuesday raised its growth projections for Germany, France and the U.K., while downgrading the U.S. growth outlook further.

Despite the pick-up in the advanced economies, the Paris-based think-tank said the slowdown in the emerging economies that account for a large share of the global economy, signals sluggish near term growth globally.

The activity is expanding at encouraging rates in North America, Japan and the United Kingdom, while the euro area as a whole is no longer in recession, the OECD said in its Interim Economic Assessment.