The latest composite leading indicator readings look a bit brighter, according to the Organization for Economic Cooperation and Development (OECD).
The Paris-based OECD reports that the latest composite leading indicators, which are designed to anticipate turning points in economic activity, are now pointing to growth pickingup in mostmajor economies.
While the indicators for Canada point to growth at close to trend rates, in theUnited States andJapan, the indicators continue to point to economic growth firming. The indicators forChina are also presenting a more positive outlook comparedwithlast month’s assessment, the OECD says, with the indicators now pointingtowards growth picking up.
In theEuro areaas a whole, and in particular Germany, the indicators are also signaling a pick-up ingrowth, it notes.The indicators are signaling a positive change in momentum for Italy, and no further declinein growth in France, it says.
As with Canada, growth is seen at close to trend fortheUnited Kingdom, Braziland Russia, while the indicators for Indiaindicate weakeninggrowth, the OECD says.