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OECD cuts 2014 growth forecasts for U.S., other developed economies
OECD cuts 2014 growth forecasts for U.S., other developed economies

Growth in the U.S. and other major developed economies this year will be much lower than forecast in May amid weak demand in Europe and rising geopolitical instability, the Organization for Economic Cooperation and Development said Monday. The U.S. economy will expand at a 2.1% annual rate, compared to an earlier projection of 2.16%, according to the OECD. Growth in the 18-nation Eurozone will be just 0.8% this year, well off the May forecast of 1.2%, the group said. Japan's economy won't fare much better: The OECD said growth there will be 0.9% this year, down from a 1.2% forecast in May. “The global economy is expanding unevenly, and at only a moderate rate,"...

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