US economy 'picks up' and China 'may slow'

Economic activity in the United States is rising, in the eurozone it is steadying, but in China and India the growth trend is slowing, leading indicators from the OECD showed on Monday. The Organisation for Economic Cooperation and Development said that its index of leading indicators suggested that economic growth in the United States was "firming". Activity in Britain was also firming but at a slower pace than seemed to be the case a month ago, the OECD said in its monthly report on composite leading indicators which are considered a reliable pointer to activity in six months' time. In Japan and Brazil signs were emerging "of growth picking up." For the 17 members of the eurozone, and notably in Germany and Italy, the leading indicators "point to a stabilisation in growth prospects" but in France "growth is expected to remain weak." The OECD, which is a policy forum for 34 advanced economies but also monitors some other important economies, said that China and India appeared to be on a growth path but "below trend compared with more positive signals in last month's assessment." The indicators for Canada and Russia continued to signal growth that was below trend, the OECD said.