Global economic recovery will pick up pace around April 2011, OECD predicts

GROWTH in economies across several continents is set to accelerate, the Organisation for Economic Co-operation and Development (OECD) said yesterday.

However, economic growth in Britain is merely showing “signs of stabilisation,” the report said.

The OECD’s indicators, measured in November, are designed to anticipate turning points in economic activity six months in advance.

“We expect [British] GDP growth to stabilise at 0.3 per cent in the second and third quarters of 2011,” said IHS Global Insight’s Howard Archer, commenting on the latest figures.

China, the US, France and Japan showed clear signs of increasingly expanding economies, the OECD revealed.

The report’s headline rate for the OECD area increased to 102.8 in November, up from 102.6 in October.

All readings over 100 points indicate growing economic activity.

Brazil was the only country to record an impending economic contraction, with a score of 98.6.

The highest levels were recorded in Germany (104.9) and Russia (105.3).