OECD sees signs of economic turnaround

The Organisation for Economic Cooperation and Development says a turnaround in the world’s major developed economies is being led by the US and Japan.

THE WORLD’S MAJOR developed countries may have reached a turning point in their economic fortunes, according to leading indicators identified by the OECD.

The indicators are being led by the US and Japan, the organisation said today. Russia and India have also shown signs of growth.

The OECD said that deterioration in the eurozone was also showing signs of slowing, with Germany, France and Italy diplaying positive signs, Reuters reports. Almost half of eurozone countries have shown positive signs for growth, according to the latest data by the organisation.

Meanwhile, China’s economic slowdown continues – at a faster pace than in its previous monthly report.

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