Eurozone shows signs of pick-up

PARIS - Reuters

The euro zone is showing tentative signs of improvement, the latest monthly readout from the Organisation for Economic Co-operation and Development (OECD) showed yesterday.

The OECD’s leading indicator, a measure that seeks to flag turning points in economic activity, rose for the euro zone area in January and also turned positive in Britain, adding 0.2 percentage points in the common currency bloc and 0.1 percentage points in Britain.

Improvements detected in previous months in the United States and Japan continued, with rises respectively of 0.7 and 0.5 percentage points in January, the Paris-based economic think tank said in a statement.

“The United States and Japan continue to drive the overall position, but stronger, albeit tentative, signals are beginning to emerge within all other major OECD economies and the Euro area as a whole,” it said.