Major Economies Are ‘Close to Low Point’ |
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June 8,2009
Most of the world’s major economies are now close to the low point of their slowdowns, in a sign that the global recession is easing, according to data published on Monday.
Most of the world’s major economies are now close to the low point of their slowdowns, in a sign that the global recession is easing, according to data published on Monday.
The Organisation for Economic Co-operation and Development reported that a “possible trough” had been reached in April for its monthly analysis of forward-looking indicators in advanced economies.
The composite leading indicators index for the 30 countries in the OECD rose 0.5 points in April, the second monthly rise in a row, although it remains 8.3 points lower than April 2008. The index seeks to identify turning points in the cycle about six months in advance.
The Paris-based international organisation said that its overall measure of the more developed economies who are its members – ranging from the Euro area and the UK to the US, Mexico and Japan – now pointed to “recovery” instead of the “strong slowdown” they had been suffering since last August.
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