PARIS, June 10 The major developed economies are
gradually gaining momentum led by faster growth in Japan and the
United States, the OECD said on Monday.
The Paris-based Organisation for Economic Cooperation and
Development said its latest monthly leading indicator as a whole
rose to 100.6 in April from 100.5 in March.
The slight improvement brought the measure, which covers 33
OECD members and is designed to indicate turning points in
economic activity, further above the long-term average of 100.
In its twice-yearly Economic Outlook last month, the OECD
forecast that the recession-hit euro zone would fall further
behind a generally improving United States and a rebounding
Japan this year, cutting its global growth estimates.
The monthly leading indicator underlined this, suggesting
that the United States and Japan were the only countries among
major economies where growth is firming.
The indicator for the United States was unchanged at 101.0
while Japan, whose central bank recently released a wave of
massive monetary stimulus on the economy, saw its reading
improve to 101.1 from 100.9.
But the euro area did not miss out on the improving outlook
with its reading rising to 100.1 from 100.0
The indicator for Germany suggested that growth was
returning to trend with a reading of 100.0 for the region's
biggest economy after 99.9 in April.
Momentum was stable in France for the third month in a row
with a reading of 99.6 while Italy saw a slight improvement to
99.9 from 99.8.