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Business

Weak Growth Predicted for Euro Zone Economies

The latest early indicators from the Organization for Economic Cooperation and Development (OECD) show that the euro zone is experiencing slower economic growth than the United States and Japan. "The July data indicates a faster development in the U.S. and Japanese domestic economies, while the data for the euro zone show we can anticipate a moderate improvement in the future," the OECD said. The early indicators show the euro zone making a weak gain, climbing to 120.1 points from 119.8 in June. By comparison, the world's two largest economies, the US and Japan, made stronger climbs to 134.1 (from 132.4) and 104.9 (from 102.8) points respectively. For the German economy, which had slipped into recession for the first half of the year, the OECD experts calculated growth to 124.2 points from 122.7 in June.