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OECD signals stable growth as Germany flags

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The European Central Bank in Frankfurt

The European Central Bank in Frankfurt

AFP/Getty Images

The European Central Bank in Frankfurt

Global economic growth is set to remain stable across the OECD area as a whole and in the Eurozone, despite signs that Germany, Europe's largest economy, is losing steam, the Organisation for Economic Co-operation and Development said.

The Paris-based OECD's monthly leading indicator showed further signs of slowing in Germany and Italy but stability in the Eurozone, of which both are part. The indicator covers the 33-country OECD and seeks to flag turning points in the economy of the area as well as individual economies.

France saw marginal improvement but Germany dipped to 99.5 from 99.6.

For the Eurozone as a whole the index remained stable at 100.6. In the broader OECD area, it nudged up to 100.5 in the latest monthly publication from 100.4 previously.

China ticked up to 99.3 from 99.2 and India's to 99.5 from 99.3. The US reading remained at 100.4 and Japan held steady at 99.8. Britain dipped to 100.3 from 100.4. Russia's fell notably to 99.8 from 100.2.

Irish Independent