OECD sees bullish outlook
By Leigh Thomas |
April 12, 2011, Tuesday
|
Print Edition
Print Edition
THE growth outlook for major industrialized economies is improving with Germany and the United States leading the recovery, the OECD's leading indicator for February showed yesterday.
The Paris-based Organization for Economic Cooperation and Development said its composite leading indicator for member countries rose to 103.2 points in February from 103 in January, above a long-term average of 100.
The US and Germany in particular were showing signs of "robust expansion" while France and Canada were possibly regaining momentum, the OECD said.
The indicator for countries belonging to the Group of Seven rose to 103.5 in February from 103.2 in January. For the eurozone, the indicator edged up to 103.5 from 103.4.
The CLI for Britain pointed to a "slow but stable pace of expansion," while for Italy it indicated a loss of momentum in economic activity. No figures were given for Japan because of the uncertain outlook for its economy after the earthquake and tsunami last month.
Among countries not belonging to the OECD but tracked by it, the indicator suggested that China was headed for a "possible moderation in economic activity," the body said.
The OECD is to update its growth forecasts for members and major economies next month. It said yesterday it had raised its forecast for French growth this year to 2 percent from 1.6 percent earlier.
The Paris-based Organization for Economic Cooperation and Development said its composite leading indicator for member countries rose to 103.2 points in February from 103 in January, above a long-term average of 100.
The US and Germany in particular were showing signs of "robust expansion" while France and Canada were possibly regaining momentum, the OECD said.
The indicator for countries belonging to the Group of Seven rose to 103.5 in February from 103.2 in January. For the eurozone, the indicator edged up to 103.5 from 103.4.
The CLI for Britain pointed to a "slow but stable pace of expansion," while for Italy it indicated a loss of momentum in economic activity. No figures were given for Japan because of the uncertain outlook for its economy after the earthquake and tsunami last month.
Among countries not belonging to the OECD but tracked by it, the indicator suggested that China was headed for a "possible moderation in economic activity," the body said.
The OECD is to update its growth forecasts for members and major economies next month. It said yesterday it had raised its forecast for French growth this year to 2 percent from 1.6 percent earlier.
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