OECD Says Canada, Other Key Economies Showing Signs of Economic Stabilization

The Canadian Press, November 12, 2012 | Go to article overview

OECD Says Canada, Other Key Economies Showing Signs of Economic Stabilization


Some encouraging economic signals: OECD

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OTTAWA - The outlook for the economy has brightened somewhat for Canada and two countries critical to Canadian exporters, according to the Organization for Economic Co-operation and Development.

The Paris-based global economic organization said Monday that its composite leading indicator points to stabilizing growth in Canada, as well as in the United States and China -- two economies that impact Canadian exports.

The OECD did not issue growth projections, but the new leading indicator reading for Canada shows a small rise of 0.02 percentage points in September, after going unchanged in August and dropping slightly in the previous three months.

For the U.S., Canada's biggest export market by far, the index rose one-tenth of a point, while China's steep decline appears to have been arrested.

Canadian policy-makers have noted they were becoming more optimistic that the U.S. finally appears poised for a more sustained recovery and have been encouraged by the recent pickup in home prices and home construction south of the border.

The organization also said data from United Kingdom and Brazil point to a pickup in growth and that there were tentative signs of economic stabilization emerging in Italy. …

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