An indicator of economic performance in the Organization for Economic Cooperation and Development (OECD) area indicated that growth in general is picking up in member countries, though with a divergent pattern.
The composite leading indicator for the OECD area, designed to anticipate turning-points in economic activity relative to trend, increased to 100.4 in January from 100.3 in December and 100.2 in November.
The positive trend is led by the United States and Japan, where the corresponding indicators continue to point to firming growth. In the Euro Area as a whole, and in particular in Germany, the indicators point to a pick-up in growth. The relevant measure for Italy and France, meanwhile, showed no further declines in growth.
The indicator for the United Kingdom points to growth close to its long-term trend, but with a slowing momentum. In Canada, the index continues to point to weak growth.
Meanwhile, in China, India and to a lesser degree in Brazil the relevant indexes show growth below trend, while in Russia it points to growth picking up, data showed.
by RTT Staff Writer
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