An indicator of the economic situation in the Organization for Economic Cooperation and Development (OECD) area increased for the second consecutive month in December, driven primarily by the United States and Japan, latest data showed.
The composite leading index for the OECD area rose to 100.4 in December from 100.2 in November, which was higher than the October reading of 100.1. The latest improvement in the index was the second in a row. Compared to December last year, the headline indicator dropped 2 percent during the month.
The corresponding indicator for the United States rose to 102 in December from 101.3 in the previous month, while the indicator for Japan moved up to 101.9 from 101.7. In the Eurozone, the composite index edged down to 98.3 from 98.5 in November.
The leading indicators for India and Russia also showed signs of an upward change in growth momentum, while the indicators for all other major OECD economies continued to point to below trend growth, data showed.
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