OECD sees improvement in US, China economies

PARIS: The pace of economic growth has stabilised in the world's leading industrialised states, with a pick-up noted in the United States and China and moderation in Germany and Japan, the Organisation for Economic Cooperation and Development said yesterday.

The OECD, in another report yesterday, said a strong economic recovery in Asean nations was now losing steam. The OECD said its index of composite leading indicators showed that for the United States, China and to a lesser extent France showed signs of improvement in October compared to September.

The organisation, which coordinates economic policy among the world's principal industrialised nations, said that in South-East Asia, the growth picture was mixed.

A solid recovery was under way in the Philippines, powered by exports, while in Malaysia activity was slowing in the face of weak trade levels.

Lacklustre production and retail sales were hampering Singapore, the OECD said, while the Thai economy was relatively stable, supported by solid production activities.- AFP

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