According to Forbes Magazine, the U.S. economy will grow faster than the European economy in 2012.
The Organization for Economic Cooperation and Development issued a report stating that "the U.S. economy will expand at a 2.9 percent annual rate in the first quarter and then a 2.8 percent rate in the second quarter."
The article reports a positive outlook for the Canadian economy, as well as the Japanese economy, whose growth rate is projected at 3.4 percent in the first quarter.
Europe's economy will experience only 1.9 percent over growth rates, due to slowed consumer activity, unemployment and limited credit availability, as reported in the Forbes article. France and Italy are both projected to decrease in growth rates within the first quarter.
The article reports that although the outlook for the U.S., Canada and Japan are bright, rising oil prices, decreased world trade, and slow market growth in China could adversely affect the projected rates.