World economic recovery set to continue but UK remains sluggish

GLOBAL economic growth perspectives are strengthening and the UK is heading for “a slow but stable pace of expansion”, a report from the Organisation for Economic Co-operation and Development (OECD) showed yesterday.

The OECD’s research continues to point to sustainable expansion, with Germany and the US leading the trend.

The French and Canadian economies could be set to regain momentum, while Britain is lagging behind, according to the findings.

The composite leading indicator (CLI) is designed to anticipate the outlook for economic activity six months in advance.

The average CLI for countries belonging to the G7 rose to 103.5 in February from 103.2 in January.

For the Eurozone, it nudged up to 103.5 from 103.4, a figure consistently higher than the UK’s relatively low index score of 101.8.

For the two biggest Asian economies, the indicator suggested that China was headed for a “possible moderation in economic activity”, while reliable estimates for Japan could not be provided after last month’s catastrophe.