OECD says signs of US economy flagging, China loses more steam

PARIS: Economic growth appears to be flagging in the United States and continues to slow in China, while France and Italy are outperforming as the euro zone economy recovers, a monthly OECD measure showed on Tuesday.

The composite leading indicators (CLIs), designed to anticipate economic turning points, signalled stable growth momentum in the OECD area as well as Japan, Germany, Britain and India, the OECD said.

"In the euro area, growth momentum continues to strengthen, particularly in France and Italy. Signs of easing growth momentum are emerging in the United States, although these may reflect transitory factors," the Paris-based Organisation for Economic Co-operation and Development said.

Using the long-term average of 100 as a benchmark, the OECD said its latest monthly CLI indices showed the U.S. economy dipping from 99.8 to 99.6 and China from 98.1 to 97.9.

It has the euro zone steady at 100.7 while within that area Germany held its ground at 99.8, France rose to 100.8 from 100.6 and Italy rose to 101.0 from 100.9.