Worst of UK recession could be over, OECD says
Monday 11th May 2009 - Full story
Its latest "leading indicators", which are considered to be a bellwether for the global economic outlook, showed that Britain progressed from being in a "strong slowdown" to "possible trough" in March.
Based on up to 10 economic indicators per country, the OECD gauge for the UK economy rose by 0.3 points to 96.6, where any increasing number below 100 represents recovery. It was 5.4 points lower than the same time last year
Of the G7 countries, France and Italy have also reached a "possible trough" according to the OECD, whereas Canada, Japan, Germany and the US, are still in the midst of a "strong slowdown".
The US fell 0.6 points to 89.9 on the OECD scale and was 11.8 points lower than a year ago, despite upbeat comments from Ben Bernanke, chairman of the Federal Reserve, who said last week the recession could be over by the end of the year
By Angela Monaghan
Source - Telegraph.co.uk Date 11 May 2009






