OECD says rich nations on track as China slows
Print Edition
Leading developed economies are still on a track toward growth, but among emerging economies China is showing increasing signs of slowing down, the OECD said yesterday.
Among big emerging countries, India is the only one where the economy continues to show “tentative positive change in momentum,” the Organization for Economic Cooperation and Development said in a monthly report on leading indicators.
Both Russia and Brazil seem to be slowing, the OECD said.
The OECD, grouping 34 advanced countries, said that in the eurozone, signs of a pickup continues, with particularly German growth on track to recovery.
In non-eurozone Britain, and in the United States and Japan, growth was firming. But the OECD signaled a sluggish performance by France where it said that momentum was “relatively stable.”
Its monthly composite leading indicator rose to 100.7 in June from 100.6 in May.
For China, it said indicators are “now pointing to slowing momentum.”
The outlook is based on index of leading indicators in major economies and is considered to be a reliable guide to future economic activity.
But although China’s rapid economic expansion has slowed over the past two years, a stronger-than-expected rebound in exports in July offered hope yesterday that the world’s second-largest economy may be stabilizing.
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