OECD raises eurozone growth forecasts

The eurozone is likely to grow by 2.7 percent this year, the OECD said on Tuesday (5 September) upgrading its growth forecasts for the 12-nation zone.

In its interim assessment, the Paris-based organisation raised its 2006 GDP growth forecast for the eurozone to 2.7 percent, up from 2.2 percent.

According to the organisation, several "transitory factors" helped the recovery including the World Cup in Germany, spending in the German construction sector and the fall in unemployment ...