OECD lead indicator shows U.S., others improving

PARIS Mon Feb 11, 2013 8:14pm IST

A woman take pictures of the skyline of New York and One World Trade Center from the side of Weehawken in New Jersey, February 9, 2013. REUTERS/Eduardo Munoz

A woman take pictures of the skyline of New York and One World Trade Center from the side of Weehawken in New Jersey, February 9, 2013.

Credit: Reuters/Eduardo Munoz

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PARIS (Reuters) - Several of the world's leading economies are showing signs of improvement while the euro zone has stabilised even if France remains weak, an indicator compiled by Organisation for Economic Cooperation and Development suggested on Monday.

In its latest report on the world's economic outlook, the OECD said the composite leading indicator (CLI) for its 33 member states rose to 100.4 in December from 100.3 the previous month, its third increase in a row.

The reading for the United States climbed to 101.0 from 100.9, while Britain's rose to 100.7 from 100.6.

Meanwhile, France's fell to 99.3 from 99.4, dropping even further below its long-term average of 100.

The reading for the broader euro zone was also below its long-term average, but inched up to 99.6 from 99.5, in a sign that growth was stabilising.

"CLIs, designed to anticipate turning points in economic activity relative to trend, show diverging patterns in the economic outlook of major economies," the OECD said.

For other countries the readings showed similar trends, with the CLI for Japan rising to 100.3 from 100.2, and China's falling to 99.4 from 99.5.

Brazil's CLI indicated growth might be picking up, while for Brazil, India and Russia it remained firmly below trend, OECD data showed.

(Reporting by Vicky Buffery)

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