Growth picking up in OECD

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Paris - Growth in most emerging economies was stable or slowing slightly, while the outlook for most developed economies was either stable or improving, the Organisation for Economic Co-operation and Development (OECD) said yesterday.

The Paris-based OECD said its leading indicator covering its 33 industrialised member countries was unchanged for a sixth month at 100.6, above its long-term average of 100.

The indicator, designed to flag turning points in the economic cycle, pointed to stable growth momentum in the OECD area as a whole.

In the US, growth momentum was above the long-term average at 100.6, its third consecutive month of improvement, while Britain’s economy was above trend at 101.13 and improved for the fourth consecutive month.

Italy’s growth momentum was improving strongly at 101.74 while the reading for France was stable at 100.33, with a slight improvement from the previous month.

In Japan growth momentum was above average but flagging with a reading of 100.40. Germany’s reading declined for a fifth consecutive month but was above average at 100.48.

Among major developing economies, growth momentum was slowing or near stable with readings slightly below 100. - Reuters

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