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September 12, 2009

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Outlook brighter for OECD nations

THE economic outlook has improved in most countries in the 30-nation OECD area and clear signs of recovery can be seen in the major seven economies, a new survey said yesterday.

The Paris-based Organization for Economic Cooperation and Development said its composite leading indicator (CLI) for the OECD area rose to 97.8 in July from 96.3 in June. The indicator for the major seven economies rose to 97.5 from 95.9.

The report is in line with other recent data and comments from officials that the outlook for world economy has improved.

"OECD composite leading indicators for July 2009 show stronger signs of recovery in most of the OECD economies," the report said.

While recovery was expected in most economies, France and Italy were faring better and might expand, it said.

The indicator for Japan rose to 94.9 in July from 93.5 in June and in the United States, it climbed to 96.0 from 94.4.

Britain's leading indicator rose to 100.6 from 99.3 and the OECD also forecast a recovery.

The CLIs for China, India and Russia all rose.

Brazil's indicator moved up only slightly, to 97.4 from 97.2 in June, and was the only country surveyed facing a possible decline.


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