U.S. Stock market chart. Photo: Bryan R. Smith/AFP via Getty Images

The U.S. economy is leaving the rest of the world behind: While U.S. economic growth is ramping up, Europe's and other major economies are slowing down, the Wall Street Journal reports.

The big picture: Though the United States' economic growth has been modest in its progression, the country's counterparts across the globe have seen their economies lose steam, which could end a rare period in which the world' largest economies have been growing simultaneously.

By the numbers:

The details: Europe's economy is cooling down, with the value of the Euro dropping after it lost 1.88% against the U.S. dollar on Thursday.

  • Business activity has also slowed in China, which means an economic slowdown could be on the horizon after initial growth at its rapid pace.

What's next: With a strengthening economy and a steadily low unemployment rate, the U.S. Federal Reserve is raising the benchmark for interest rates by a quarter of a percentage point, and could continue to increase rates as the economy strengthens.

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