Economic growth picking up in most major economies: OECD
2013-04-10 14:50:45
Growth is picking up in the majority of world's large economies, except India where a further weakening is indicated, a survey by the Organization for Economic Development and Cooperation (OECD) showed Wednesday.
A leading indicator of economic activity in OECD member countries for the month of February showed that growth is firming in the United States and Japan. In china, the outlook has turned more positive and growth is seen picking up.
Similarly, the corresponding indicator for the Eurozone, and particularly Germany, continue to indicate pick-up in growth. The Italian economy is experiencing a positive change in growth momentum, while there is no indication of further decline in growth in France.
The relevant indicators for the United Kingdom, Canada, Brazil and Russia signal growth close to trend rates, while the outlook for India signals a further weakening of growth.
The composite leading economic indicator for the OECD area increased 0.13 percent month-on-month to 100.5 in February, as it did in the previous month. In December, and November the index grew by 0.12 percent and 0.1 percent respectively.