The Organization for Economic Cooperation and Development (OECD) has highlighted the diverging economic situation in major world economies in its latest report on economic data for its 34 member countries.

The OECD says that the composite leading indicators (CLIs), that are designed to anticipate turning-points in economic activity relative to trend, ‘show diverging growth patterns in the economic outlook of major economies.’

While CLIs continue to show growth firming in the US and the UK, the signs for the British economy have grown ‘slightly weaker’.

As far as the Eurozone is concerned, the OECD sees a stabilization in growth prospects, particularly in Germany and Italy, although growth is France is expected to remain weak.

Signs of growth picking up are emerging in Japan and Brazil, although CLIs continue to point to below trend growth in the likes of China, India, Russia and Canada.

JM