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The Paris-based Organisation for Economic
Cooperation and Development said its leading indicator covering
33 member countries was unchanged for the sixth month in a row
at 100.6, above its long-term average of 100.
The indicator, designed to flag turning points in the economic
cycle, pointed to stable growth momentum in the OECD area as a
whole.
In the United States, growth momentum was above a long-term
average at 100.6, its third consecutive month of improvement,
while Britain's economy was above trend at 101.13 and improving
for the fourth consecutive month.
Italy's growth momentum was improving strongly to 101.74 while
the reading for France was stable at 100.33, with a slight
improvement from the previous month.
However, growth momentum was above average but flagging in Japan
with a reading of 100.40, possibly due to a one-off tax
increase. In Germany the reading was 100.48, its fifth
consecutive month of decline.
Among major developing economies, growth momentum was slowing or
near stable with readings slightly below 100.
China's growth prospects had improved slightly to 99.25 from
99.10 the previous month, while India showed tentative signs of
stronger momentum with a reading of 98.22.
(Reporting By Nicholas Vinocur Editing by Jeremy Gaunt)
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