OECD sees cutting Europe, Japan growth forecasts

The OECD is prepared to cut growth expectations for much of the world, including Europe and Japan, the organization's head said on Friday.

"We're not talking about a contraction of the economies, but a slowdown of the growth," Angel Gurria, secretary-general, of the Organization for Economic Co-operation and Development club of industrialized nations, said in an interview with Reuters Insider in Jackson Hole, Wyoming, where central bankers are gathered for an annual meeting.

Only a few countries, like Turkey, are still experiencing strong growth. The rest are linked together in what has become a general slowdown: "In open economies, if they are not growing of course they don't buy from the others," Gurria said.(Reuters)