Tuesday, 9 June 2009

OECD indicators show slower decline

More hopeful indications for the global economy on Monday, this time from the OECD. Reuters reports:

The economic outlook for the OECD area declined at a slower pace in April, an OECD survey said on Monday, and there were stronger indications that the downturn may have hit bottom in Canada, France, Italy and Britain.

The Paris-based Organization for Economic Co-operation and Development said its composite leading indicator for the OECD area rose in April, reaching 93.2 compared to a revised 92.7 in March. There was an 8.3 point drop from April a year earlier.

Other reports from Europe on Monday reinforced the view that the recession is easing. Sentix's gauge of investor and analyst sentiment in the euro zone rose to -27.0 in June from -34.3 in May while German manufacturing orders held steady in April after increasing in March.

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