OECD indicates growth outlook for big economies is picking up

The growth outlook for major industrialised economies is picking up, although big differences in momentum remain between countries, the OECD’s leading indicator for December showed yesterday.

The Paris-based group said its December composite leading indicator for 29 of its member countries rose to 102.8 from a revised 102.5 in November, pointing to stronger growth momentum.

Japan, the United States and Germany were leading the charge, it said, with a more moderate outlook for Canada, France and Britain, and signs emerging of a downturn in Italy.

The OECD is predicting global growth of 4.2 per cent in 2011, down from 4.6 per cent in 2010, with wide variations in different countries’ outlooks.