Global economy weekahead: No winners in race for growth medals | Reuters

Global economy weekahead: No winners in race for growth medals | Reuters: " "Faster, Higher, Stronger" is the motto of the Olympics opening in London on Friday. "Slower, Lower, Weaker" would be a better description of the economic performance of many of the countries competing in the games.

None of the big names will look worthy of a place on the podium if forecasts for a raft of data due this week from the euro zone, the United States and Britain prove accurate.

Even China, the long-standing growth champion, is huffing and puffing."

And for all the growth hormones injected in the form of cheap central bank money, the global economy is likely to be running on the spot for some time yet given fears that the United States could fall off a fiscal cliff, the softer trend in China and, above all, the debilitating euro zone crisis.

July's advance surveys of purchasing managers in the 17-nation single currency area, due on Tuesday, are expected to produce readings well beneath the boom-bust mark of 50, signaling recession.

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