Economic growth is set to pick up in Italy, France and the eurozone, according to leading indicators released on Monday by the Organisation for Economic Cooperation and Development.
The Paris-based research body said its gauges of future economic activity — which are based on information available for January — also suggested growth in most of the world’s other large economies will remain at current rates over coming months.
India and Russia are the main exceptions, the former set for a pick-up, and the latter for a further slowdown.
The OECD’s composite leading indicators (CLIs) are designed to provide early signals of turning points between the expansion and slowdown of economic activity, and are based on a wide variety of data series that have a history of signalling changes in economic activity.
The leading indicators for the eurozone suggest growth will pick up in the early months of 2015, and are consistent with new forecasts released by the European Central Bank Thursday, which projected an acceleration in growth this year.
The ECB boosted its eurozone forecasts from three months ago, saying it now expects 1.5 per cent growth this year, 1.9 per cent in 2016, and 2.1 per cent in 2017. It previously had predicted the currency bloc’s economy would grow 1 per cent in 2015 and 1.5 per cent in 2016.
via Herald Sun
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