Signals of economic recovery are strong: OECD
Posted: 06 November 2009 2323 hrs

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PARIS : Green shoots of recovery are beginning to look like strong saplings of growth, with indicators pulling strongly ahead in China, Britain, France and Italy the OECD said on Friday.

"A recovery is clearly visible in the United States, Japan and all other OECD economies and major non-OECD economies."

The Organisation for Economic Cooperation and Development said that "tentative signals of expansion have emerged in Canada and Germany."

The OECD, which represents 30 leading industrialised economies, said that its "composite leading indicators continue to show strong signals of recovery."

This measure for the OECD area had risen by 1.3 points in September and was 3.4 points higher than in September of last year.

But the OECD said these signals should be interpreted with caution because they measured expected improvement in economic activity against long-term potential levels of activity.

Future potential growth levels were believed to have fallen as a result of the crisis, thus helping to improve the relative picture of current growth trends.

- AFP /ls