OECD area showing signs of positive change
Economic activity among Organisation for Economic Cooperation and Development (OECD) members is starting to gain momentum, driven primarily by the US and Japan, according to the organisation.
The OECD’s report on composite leading indicators reveals that India and Russia are also starting to show upward changes in momentum, while the euro area and Brazil are registering below-trend growth.
While the OECD reports that “seven of the fifteen countries in the euro area are now pointing towards a positive change in momentum”, the outlook for growth remains at “below-trend”.
The readings for China continue to drop, down from 99.8 in November to 99.3 in December, along with Canada, France, Germany, Italy and the UK.