OECD indicator signals stable growth

[PARIS] International economic growth is set to remain stable across the OECD area as a whole and in the eurozone, despite signs that Germany, Europe's largest economy, is losing steam, the Organisation for Economic Co-operationa and Development said.

The Paris-based OECD's monthly leading indicator showed further signs of slowing in Germany and Italy but stability in the eurozone, of which both are part. The indicator covers the 33-country OECD and seeks to flag turning points in the economy of the area as well as individual economies.

France, the second-biggest eurozone economy, saw marginal improvement, with the OECD's index of growth rising from 100.2 to 100.3. It dipped in Germany to 99.5 from 99.6 and in Italy to 101.0 from 101.1.

For the eurozone as a whole the index remained stable at 100.6. In the broader OECD area, it nudged up to 100.5 in the latest monthly publication from 100.4 previously.

China's reading ticked up to 99.3 from 99.2 and India's to 99.5 from 99.3. The US reading remained at 100.4 and Japan held steady at 99.8 Britain's reading dipped to 100.3 from 100.4 and Russia's dipped more notably, to 99.8 from 100.2.

REUTERS