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OECD suggests US, China and Italy may be recovering
Source: Bloomberg News |
November 13, 2012, Tuesday
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Print Edition
Print Edition
THE Organization for Economic Cooperation and Development yesterday said its leading economic indicator suggests that the US, Chinese and Italian economies may be approaching a recovery after slowing in previous months.
The composite leading indicator for the US climbed to 100.9 in September from 100.8 in August, the Paris-based OECD said in an e-mailed statement.
The reading for Italy rose to 99 from 98.9, its second consecutive gain, while China's reading was flat for a third month at 99.4, the OECD said.
The stabilization underlines the fragile state of the world economy at a time when US President Barack Obama is beginning negotiations with lawmakers on how to avoid saddling the world's largest economy with tax increases known as the "fiscal cliff" and European policy makers seek to revive growth after three years of a sovereign debt crisis. The reading for all OECD countries stood at 100.2.
The composite leading indicator for the US climbed to 100.9 in September from 100.8 in August, the Paris-based OECD said in an e-mailed statement.
The reading for Italy rose to 99 from 98.9, its second consecutive gain, while China's reading was flat for a third month at 99.4, the OECD said.
The stabilization underlines the fragile state of the world economy at a time when US President Barack Obama is beginning negotiations with lawmakers on how to avoid saddling the world's largest economy with tax increases known as the "fiscal cliff" and European policy makers seek to revive growth after three years of a sovereign debt crisis. The reading for all OECD countries stood at 100.2.
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