In February the Paris-based Organization for Economic Cooperation and Development (OECD) revised (up) its forecasts for US growth for 2025 while it cut expectations for most of the euro area, which it now sees expanding only 0.6% in 2024.
OECD Chief Economist Clare Lombardelli said:
"The US economy is showing “remarkable strength” compared with Europe, where countries are struggling more with tighter monetary policy and the shocks of the energy price surge in recent years."
But what are the details behind this that make US and Europe so different?
Boasting a rapidly expanding economy, a robust labor market, and declining inflation rates, the US has surpassed its European and global counterparts. In the fourth quarter of 2023 alone, the US recorded a remarkable 3.3% increase in GDP, far surpassing economists' projections of 2%. This growth trend persisted throughout the year, with the US outpacing all other advanced economies and poised to continue th ...
Sign up to read the entire article. It's Free and Simple to sign up!
We are offering a
FREE 30 day trial which includes full access to the following services here at investorAi.
You only need an email address to sign up! You will NOT be billed at the end of your trial unless you wish to begin a subscription.