Growth is showing signs of edging up in most big economies, but appears to be firming markedly only in the US and Japan, the OECD said today.
Meanwhile, among the major emerging nations China and Brazil are ticking along at trend rates, while growth in Russia is “losing momentum” and in India it remains below par.
The Organisation for Economic Cooperation and Development said that its index of leading indicators shows the Eurozone overall appearing to pick up some momentum with growth in Germany “returning to trend” and a “positive change” in Italy.
However for France, which has fallen into recession, it “does not indicate any change in momentum,” the OECD said in its monthly report.
The index points to growth close to trend rates for Britain and Canada.
The outlook is based on index of leading indicators in major economies and is considered to be a reliable guide to future economic activity.
The OECD is a forum for policymaking and analysis grouping 34 advanced economies.