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Advanced economies shows firm signs of recovery: OECD

Updated: 2014-02-11 11:54:54 (KST)
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The Organisation for Economic Cooperation and Development expects major nations to show signs of firm growth over the first six months of the year.
In its latest economic report released Monday, the OECD said its leading indicator covering 33-member countries had reached its highest level in almost three years in December last year -- a sign that growth is firming.
The OECD index of composite leading indicators showed the overall growth condition of the member states was above trend, rising to 100.9 in the last month of 2013, edging up from 100.8 in November.
The CLI shows how the economy will fare over the next six months by measuring the current industrial output, financial market conditions and the gross domestic product of each nation.
A reading above 1-hundred means economic expansion, while one below shows otherwise.
The overall recovery is forecast to be driven by quickening economic growth in the United States and Japan.
The OECD index showed the U.S. stood at 1-hundred-01 in December, up from 100.9 in the previous month -- the highest level since the global financial crisis in March 2008.
For the same period, Japan saw its reading edge up to 101.4 from 101.3, also the highest level since the financial crisis.
The 18-nation eurozone saw its reading jump to 101.1 from 100.9.
However, the OECD painted a different picture for emerging economies, with growth trends looking less rosy.
China's reading stood at 99.3 in December, unchanged from the previous month.
Many analysts say the Chinese economy could slow this year, as Beijing plans to shift its focus away from exports and investment to domestic spending and consumption.
Russia's indicator also remained stable at 99.7, while India dropped to 97 from 97.2.
Kim Min-ji, Arirang News.


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