OECD Leading Index Signals Stabilization In Euro Area
2013-01-15 15:14:53
A leading indicator of economic activity in the Organization for Economic Cooperation and Development (OECD) area showed that the Eurozone economy is stabilizing, while growth is set to gather momentum in many of the major OECD member countries in the coming months, latest data showed.
The leading economic index for the OECD area, which is designed to anticipate turning-points in economic activity relative to trend, remained unchanged at 10.2 in November.
The leading indexes for the United States and United Kingdom continue to suggest that economic growth is picking up there. In China and India, there have been more prominent signs of a turning point than in last month, OECD said.
In addition to the Eurozone, the indicators for Italy, Germany and France also point to a stabilization in growth prospects. Tentative signs of stabilizing growth are emerging in Brazil and Japan also.
On the contrary, the indicators for Canada and Russia continue to signal weak growth prospects, data showed.