OECD says global growth 'picking up'

Global economic activity is picking up, especially in the United States and Japan, though it appears to be weakening in India, the OECD has said.

Global economic activity is picking up, especially in the United States and Japan, though it appears to be weakening in India, the OECD said Wednesday.

A sold sign in front of a home in San Anselmo, California last month

A monthly release of composite leading indicators (CLIs) showed that for China, there was "a more positive outlook compared with last month's assessment, with the CLI now pointing towards growth picking up," the Organisation for Economic Cooperation and Development added.

In the 17-nation eurozone, and in Germany in particular, the indicators "continue to indicate a pick-up in growth" as well, the monthly reading found.

Brazil, Britain, Canada and Russia were expected to see growth close to their current trends, "while the CLI for India indicates weakening growth," the OECD said.

The organisation compiles economic data on 33 of the world's leading economies and six other non-member countries for the release, which did not provide detailed growth forecasts for the countries that were covered.