OECD: Recovery clearly visible in major economies

| November 6, 2009 | 0 Comments
OECD: Recovery clearly visible in major economies

The Organisation for Economic Co-operation and Development (OECD) has provided a positive outlook for major economies saying “a recovery is clearly visible in the US, Japan and all other OECD economies and major non-OECD economies.”

The report will give a boost to the UK which did not emerge from recession in the third quarter as expected. According to the OECD, its leading indicators “point strongly” to growth in Italy, France, the UK and China.

Meanwhile Canada and Germany’s economies are also showing “tentative signals of expansion”, said the OECD.

The Paris-based organisation said its composite leading indicator for the 29-member OECD area grew from 99.3 in August to 100.7 in September.

Any reading above 100 indicates growth with Italy, France, the UK and China scoring 105.6, 104.6, 103.9 and 103.2 respectively.

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