OECD sees economic recovery strengthen October 9, 2009
The world's leading industrialised economies are showing strengthening signs of recovery from the global downturn, according to the latest gauge by the OECD grouping of rich countries, published on Friday.
The Organisation for Economic Cooperation and Development (OECD) said that its "composite leading indicators" for August 2009 "continue to point to recovery in all major economies."
It said the indicators, which gauge turning points in economic cycles but are not a straight-forward measure of economic growth, even pointed to "potential expansion" from earlier levels in the measure for France and Italy.
The overall indicator for the 30-nation OECD zone was up 1.5 points month-on-month in August and 0.6 points higher from the same month a year ago.
It rose 1.6 points month-on-month for the United States, 1.7 points for the eurozone and 1.3 for Japan. - AFP
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