OECD indicator flags improving outlook in emerging countries

[PARIS] Economic slowdown in emerging market countries is showing signs of abating, the OECD said on Wednesday, adding that the outlook was improving in Brazil and Russia and stabilising in China but continuing to deteriorate in the United States.

The Paris-based Organisation for Economic Cooperation and Development said its monthly leading economic indicator, a measure designed to flag turning points in the world economy, also showed stable growth momentum in the eurozone.

"CLIs (composite leading indicators) continue to point to easing growth in the United States and the United Kingdom, with the outlook for easing growth now confirmed in Italy," it said in a statement.

On an index where 100 represents the long-term average, the OECD said the reading for OECD countries as a whole edged down to 99.6 in March from 99.7 the month before.

China's reading remained at 98.3 in its latest review of conditions. Brazil's improved to 98.3 from 98.0 while Russia's indicator edged up to 98.6 from 98.4.

The US reading edged lower, to 98.8 from 98.9, while the UK reading remained stable at 99.1 and still pointed to easing growth. Germany's indicator stood at 99.7, unchanged from the previous month.

The eurozone economy dipped to 100.4, with the indicator for France stable at 100.9 while it fell for Italy from 100.8 to 100.7.

REUTERS