Some signs China economy stabilising while US, Britain weaken: OECD
PARIS – The US and British economies appear to be losing steam while the Chinese economy is showing some signs of stabilisation after a period of weakness, a
monthly indicator published by the Organisation for Economic Co-operation and Development showed.
The Paris-based OECD’s leading indicator, which is supposed to capture turning points in the economy, pointed broadly to stable growth rates, notably in the euro zone, where France stood out with further signals of strengthening growth.
In index readings where 100 is the long-term average, the latest reading for the euro zone was steady at 100.6.
The US reading fell to 99.1 from 99.2, and the UK to 99.3 from 99.5. Japan dipped to 99.8 from 99.9.
“Amongst the major emerging economies, tentative signs of stabilisation are emerging in China as well as in Brazil, while firming growth is anticipated in India,” the OECD said. “In Russia the outlook continues to be for weak growth momentum.”
The index for China rose to 98.4 from 98.3. For Brazil, it rose to 99.3 from 99.1. It rose in India to 100.3 from 100.1 and fell in Russia to 99.2 from 99.3. –Reuters