Growth is stable in the major developed economies

Growth is stable in the major developed economies, according to the CLI August complex macro-economic indicator of the OECD published on Monday.

The Paris-based Organisation for Economic Cooperation and Development said its leading indicator for its 34 member countries was unchanged in August at 99.7, where it has stood since March. That compares with a long-term average represented by 100.

The indicator for Britain ticked up to 99.5 from 99.3 in July in a reading the OECD said was consistent with “growth stabilizing around a lower rate”. (MTI)