The latest composite leading indicator readings point to stabilizing growth for a change, reports the Organization for Economic Co-operation and Development.
The Paris-based OECD says that the composite leading indicators, which are designed to anticipate turning points in economic activity, continue to point to weak growth prospects in many major economies, but signs of stabilization are emerging in Canada, China and the United States.
Compared to recent months where the indicators pointed to a deteriorating outlook, tentative signs of stabilization are also emerging in Italy, it notes.
However, the indicators for Japan, Germany, France, and the euro area as a whole, continue to point to weak growth, the OECD says. In India and Russia, the indicators also continue to point to weak growth, it adds. Whereas the readings for the UK and Brazil continue to point to a pick-up in growth.