OECD confirms its forecast for weak economic growth in Europe
Paris - AFP
The Organisation for Economic Co-operation and Development on Wednesday confirmed its forecast of weak economic growth in Europe next year, while most of the other major world economies would see stable output.
According to the latest edition of its composite leading indicators (CLIs), the data for the euro area "continues to point to a loss of growth momentum, with stronger signals of a slowdown in the case of Germany and Italy," the OECD said in a statement.
In France, however, the CLI -- designed to anticipate turning points in economic activity -- suggests a stable growth momentum, while in the United Kingdom "stable growth may ease, albeit from relatively high levels", it said.
The Paris-based Organisation for Economic Cooperation and Development, which provides economic analysis and advice to its industrialised country members, said among the countries anticipating stable growth in 2015 were Canada, the United States, Brazil, China and Russia.
The CLI for Japan points to "growth losing traction, though this may be related to one-off factors," the OECD said.
The only major economy where the CLI shows a pick-up in growth momentum is India, it added.