OECD in­di­ca­tor firms for euro zone, slips for US and UK

The Pak Banker - - BUSINESS -

PARIS: Eco­nomic growth is show­ing fur­ther signs of firm­ing in France, Italy and the euro zone over­all, while growth looks to be eas­ing to around long-term trends in the United States and UK, the Or­gan­i­sa­tion for Eco­nomic Co­op­er­a­tion and De­vel­op­ment said. Trends are point­ing more strongly to a loss in growth mo­men­tum in Brazil and China, mean­while, ac­cord­ing to the OECD's monthly lead­ing in­di­ca­tor, a mea­sure de­signed to flag turn­ing points in the in­ter­na­tional econ­omy.

Sta­ble growth mo­men­tum is ex­pected in Ger­many, Ja­pan and In­dia, while in­di­ca­tions for Rus­sia also point to sta­ble growth mo­men­tum although be­low the long-term trend, the OECD said on Mon­day. The in­di­ca­tor, a syn­thetic in­dex where 100 is the long-term av­er­age, re­mained at 100.7 in the euro zone for the fourth con­sec­u­tive month in June but con­tin­ued to ease to 99.4 in the U.S. from May's 99.5, hav­ing fallen be­low 100 in Fe­bru­ary. Bri­tain's read­ing slipped to 99.8 in June, hav­ing dipped be­low 100 to 99.9 in May. The in­dex rose month-on-month to 100.8 from 100.7 in France and was sta­ble at 100.9 in Italy. China's in­di­ca­tor con­tin­ued its steady de­cline to 97.4 in June from 97.5 in May. Brazil slipped to 98.8 from 99.0. The read­ing for Ger­many, the euro zone's big­gest econ­omy, was sta­ble at 100.0.

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