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OECD Sees Stronger World Growth

Forecast includes slowdown in China's momentum.

Economic activity is set to accelerate in the richer nations, though China will see a "downturn" in its phenomenal expansion, the OECD said on Monday.

The Paris-based Organization for Economic Development and Co-operation said that its December "composite leading indicators (CLIs)", designed to anticipate turning points in economic activity, "point to continued moderate expansion."

That growth should be "relatively robust" for Germany, Japan and the United States, with a more moderate outlook for Canada, France and Britain, and "signs emerging of a downturn in Italy."

The OECD revised downwards its recent predictions for China.

"New data for China point to a downturn, reversing the tentative signs of regained growth momentum reported in last months assessment," the OECD said in its report.

However everything is relative.

Data released Monday showed China has overtaken Japan as the world's second-biggest economy, with only the United States ahead of it.

The CLI for India was also "pointing towards a slowdown, though Russia's figures point towards expansion.

Copyright Agence France-Presse, 2011

TAGS: Trade
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