OECD sees momentum easing in developing states, India stable
PARIS (Reuters) - Growth momentum is weakening in major developing economies with the exception of India while the economic outlook is stable for most developed countries, the OECD said on Tuesday.
The Paris-based Organisation for Economic Cooperation and Development said its leading indicator covering 33 member countries was unchanged in April 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, suggested there was "stable growth momentum" in the bloc of mostly wealthy developed nations, the OECD said.
However growth was below trend in Brazil, China and Russia while India's reading was steady at 97.9, which the OECD described as a tentative positive turning point in the country's economic cycle.
The outlook was stable in the United States, with a 100.5 reading unchanged for months. The OECD said the euro area saw a positive change in momentum with a reading of 101.1, which was steady from March but up from previous months.
However, Japan saw its reading continue to ease, slipping to 100.6 from 100.7 as consumers adjust to the first increase in value added sales tax since 1997.
(Reporting by Leigh Thomas; Editing by Ingrid Melander and Alexandra Hudson)
- Tweet this
- Share this
- Digg this
- Govt considers ban on e-cigarettes, sale of single smokes
- India's fiscal deficit in H1 almost 83 pct of full-year target
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- Sensex surges 500 points on BOJ easing, L&T gains
- Europe won't recognise vote in eastern Ukraine, Merkel tells Putin
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article