(MENAFN- Kuwait News Agency (KUNA)) The Organisation for Economic Cooperation and Development (OECD), which comprises 34 of the most industrialised nations, on Tuesday painted a rather mixed picture of the state of the global economy, noting a slowdown in many emerging economies but stability in most of its developed member countries.
Publishing the "Composite Leading Indicators," a monthly reference tool for taking the pulse of the world economies, the OECD said that the latest data "suggest that momentum is weakening in most major emerging economies but stable in the OECD area." Brazil, China and Russia, three crucial BRICS group members, are growing "below trend," the report noted.
But India is showing signs of bucking that downward trend as data is "suggesting a return to faster growth" for that giant.
Stable growth momentum is being registered in the United States and Canada and growth is above trend for Britain.
"A positive change in momentum" is also indicated in the Euro area, especially in Italy, while Germany and France remain stable.
Japan is the only OECD country cited as having a downward performance, but this is believed to be due to "one-off factors."
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