OECD Says Leading Indicator Shows Global Economy StabilizingMark Deen
The Organization for Economic Cooperation and Development said that its leading economic indicator suggests that the global economy is stabilizing as the U.S., U.K., China and India return to growth.
The composite leading indicator for the U.S. climbed to 101 in November from 100.8 in October, the Paris-based OECD said today in an e-mailed statement. The reading for the U.K. rose to 100.7 from 100.5, while China’s reading climbed to 99.7 from 99.5. The euro-area reading rose to 99.5 from 99.4.
“In the U.S. and U.K., the leading indicator continues to point to economic growth firming” the OECD said today in a monthly statement. “In China and India, signs of a turning point are more marked than in last month’s assessment” and for the reading of the euro area “as a whole point to a stabilization in growth prospects,” according to the OECD.