Emerging economies like China, Russia and Brazil are losing some of the driving steam which helped prevent a global economic slump, but advanced economies are now increasingly able to pick up the slack, according to key data published yesterday.
The Organisation for Economic Co-operation and Development (OECD) said its latest monthly report on leading economic indicators suggest that “the growth momentum is weakening in most major emerging economies” with the indicators showing weaker than usual growth in China, Russia and Brazil.
Conversely, the United States and Canada are showing stable growth momentum, the 18-member eurozone as a whole including Italy is improving, and non-euro Britain is steadying at unusually strong growth rates, the OECD said.
