OECD: Better outlook for the major developed economies

10 June 2013 14:30 - Mark Maffia

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OECD: Better outlook for the major developed economies


According to the OECD, Japan and the United States lead the major developed economies in slowly speeding up their growth again.


The OECD publishes an economic outlook for the 34 OECD members twice a year.    In its report, published on Monday, it says that the Eurozone is expected to fall even further behind the United States and Japan, which are both on the way to recovery.   This means that global growth generally will be slowed down.


The overall monthly leading indicator for the OECD members rose to 100.6 in April from 100.5 in March.   The indicator just for the United States stayed at 101.0, and Japan improved from 100.9 to 101.1 as a result of the measures by its central bank.


Europe

The Eurozone did show a slight improvement from 100.0 to 100.1. The regionsí biggest economy, Germany, improved to 100.0 from 99.9 in April.    France remained at 99.6 the same as the previous two months, and Italy gained slightly from 99.8 to 99.9.


The OECD

OECD stands for Organization for Economic Co-operation and Development.    It was founded 50 years ago to ensure lasting peace by co-operation of governments after the Second World War and to avoid the same mistakes which had been done after World War I.   They use the information on a broad range of topics to support governments towards prosperity and fight poverty through economic growth and financial stability. At the time, 18 European countries plus the United States and Canada were joined together, and now there are 34 member countries around the globe.


 

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