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You're reading: OECD: Europe weighing on global economy
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Even so, the Organization for Economic Cooperation and Development said it expects the world economy to grow by 3.4 percent next year, up from 2.9 percent this.

The projected advance masks big divergences around the world.

The Paris-based agency said it is gloomier about Europe than it was six months ago in its last update. It now predicts a 0.4 percent contraction this year for the 17-country eurozone and a 0.1 percent fall next year. In May, the OECD forecast the eurozone economy to shrink just 0.1 percent this year and grow 0.9 percent in 2013.

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