Rich economies signal recovery is gaining strength: OECD

PARIS: Signs of recovery in rich economies gained strength in November, the OECD said on Friday on the basis of its index of leading indicators.

The leading indicators for all seven leading OECD economies "have moved above their long-term trend, implying an expansionary outlook," the Organization for Economic Cooperation and Development said.

"The outlook for major non member economies also continues to point to a recovery."

Leading indicators for the entire 30 economies belonging to the OECD rose by 1.0 point in November and showed a gain of 8.2 points over 12 months.

The index for the United States also rose by 1.0 point and was 6.8 points higher than the reading 12 months previously.

For the eurozone, the index rose by 1.1 points for a 12-month gain of 10.9 points.

For big economies outside the OECD area, the index for China rose by 0.2 points for a gain over the figure in November last year of 7.6 points.

The OECD groups 30 industrialised economies and is a centre for studying economic and social trends and advising governments on policy.