The growth outlook for major industrialised economies is improving with Germany and the United States leading the recovery, the OECD's leading indicator for February showed on Monday. The Paris-based Organisation for Economic Co-operation and Development (OECD) said its composite leading indicator (CLI) for member countries rose to 103.2 points in February from 103.0 in January, well above a long-term average of 100.
The United States and Germany in particular were showing signs of "robust expansion" while France and Canada were possibly regaining momentum, the OECD said. The indicator for countries belonging to the Group of Seven wealthy countries rose to 103.5 in February from 103.2 in January. For the eurozone, the indicator nudged up to 103.5 from 103.4.
Among countries not belonging to the OECD but tracked by it, the indicator suggested that China was headed for a "possible moderation in economic activity," the OECD said. The OECD is to update its growth forecasts for members and major economies next month. It said on Monday it had raised its forecast for French growth this year to 2 percent from 1.6 percent earlier.
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