OECD sees signs of hope
The FT is reporting today that the OECD is seeing green shoots sprout from amidst the wreckage:
Further signs of “green shoots” in the global economy emerged on Monday after the Organisation for Economic Co-operation and Development said recessions in the UK, France and Italy were nearly over.
There were “tentative signs of… a pause in the economic slowdown” in the three leading European countries as well as China, the Paris-based international organisation said as it published forward looking data on major economies for March.
The OECD’s index of leading indicators suggests that China, the UK, France and Italy are all in a “recovery” stage of the business cycle, where their score in the index is less than 100 but rising.
With tentative signs of recovery, of course comes cautioned remarks and the spectre of inflation in America.