Growth strengthening in most advanced countries - OECD

Monday 10 February 2014 18.59
OECD's index of composite leading indicators show growth conditions improving in the US and UK
OECD's index of composite leading indicators show growth conditions improving in the US and UK

Growth is strengthening in most advanced economies, the OECD said today, while emerging economies are mostly keeping on trend despite significant headwinds.

The OECD index of composite leading indicators (CLI) showed that growth conditions were holding at above trend in Japan as they continued to improve in the US and Britain.

Inside the euro zone, the indicators show growth strengthening in Germany with a switch to positive momentum holding in France and Italy and in the currency bloc as a whole.

This comes despite worries about France, the second-biggest economy in the bloc, which is widely thought to be the latest euro zone weak-spot. 

The French central bank said today that the country would grow by an anaemic 0.2% in the first quarter this year.

Among the major emerging markets, the OECD said that growth was still on par with trend in China, Brazil and Russia. 

Emerging countries have suffered from a crisis of confidence by investors in recent weeks, with Brazil and Russia both seeing their currencies nosedive as foreign investment dries up. 

The OECD said that signs in India, which is also under pressure, were indicating below trend growth.