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OECD sees US, UK economies rising
Source: Agencies |
December 11, 2012, Tuesday
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Print Edition
Print Edition
ECONOMIC growth appears to be gathering traction in the US and Britain, while China and Italy may be about to turn up, the Organization for Economic Cooperation and Development said yesterday.
Signals continue to point to weak growth in Germany, France and the eurozone as a whole, however, and likewise in Japan, Russia and Canada, the Paris-based OECD said in a statement on its monthly composite leading indicator.
The OECD said its October CLI reading for the US and Britain remained above 100, which represents the long-term average of economic performance, rising respectively to 100.9 and 100.5, from 100.8 and 100.3 in September.
For China, that index rose to 99.6 in October after four months at 99.5, while that of Italy, the No. 3 economy in the eurozone, held steady at 99.
In a more comprehensive readout on the global economy last month, the OECD said it saw China's economy growing by 7.5 percent this year before rising to 8.5 percent in 2013.
Signals continue to point to weak growth in Germany, France and the eurozone as a whole, however, and likewise in Japan, Russia and Canada, the Paris-based OECD said in a statement on its monthly composite leading indicator.
The OECD said its October CLI reading for the US and Britain remained above 100, which represents the long-term average of economic performance, rising respectively to 100.9 and 100.5, from 100.8 and 100.3 in September.
For China, that index rose to 99.6 in October after four months at 99.5, while that of Italy, the No. 3 economy in the eurozone, held steady at 99.
In a more comprehensive readout on the global economy last month, the OECD said it saw China's economy growing by 7.5 percent this year before rising to 8.5 percent in 2013.
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