The latest economic readings are signaling that the recovery in the world’s biggest economies may be gaining a little momentum, the Organization for Economic Co-operation and Development (OECD) said Monday.
The Paris-based OECD reports that its composite leading indicators, which are designed to anticipate turning points in economic activity, point to moderate improvements in growth in most major economies.
For Canada, the OECD notes that growth is expected to be close to its long-term trend.
The United States and Japan are the only countries where the indicators point to economic growth firming, the OECD notes. In the other major economies, the indicators point to limited growth momentum, it says.
Indicators continue to point to a gain in growth momentum in Europe, with growth is returning to trend in Germany, and a positive change in momentum in Italy.
They do not indicate any change in momentum for France, and the indicator for the United Kingdom is also signaling growth that’s close to trend.
Among emerging market economies, on trend growth is also seen for China and Brazil, but growth is losing momentum in Russia, and growth is indicated below trend for India.