December 8, 2016 / 11:09 AM / in 3 years

OECD leading indicator flags growth building in advanced economies

PARIS (Reuters) - Growth momentum is picking up in major advanced economies while growth is also expected to gain speed in China, the OECD’s monthly leading indicators indicated on Thursday.

The Paris-based Organisation for Economic Cooperation and Development said its leading indicator for its 35 member countries was unchanged in October for the third month in a row at 99.8, just below its long-term average of 100.

The indicators, which are designed to flag turning points in economic activity, showed signs of growth gaining momentum in the United States, Canada, Germany and France.

“In the United Kingdom, there are also signs of improvement in the short term, although uncertainty persists about the nature of the agreement the UK will eventually conclude with the EU,” the OECD said.

Reporting by Leigh Thomas; editing by Michel Rose

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