Growth momentum stable in major economies: OECD

PARIS: Economic momentum is holding stable in major industrialised economies while growth has settled at a lower rate in Britain after its vote in June to quit the European Union, the OECD's monthly leading indicators showed on Monday.

The Paris-based Organisation for Economic Cooperation and Development said its leading indicator for its 34 member countries was unchanged in August at 99.7, where it has stood since March. That compares with a long-term average represented by 100.

The indicator for Britain ticked up to 99.5 from 99.3 in July in a reading the OECD said was consistent with "growth stabilising around a lower rate".