OECD sees signs of eurozone growth

EUROZONE economic growth is beginning to emerge, especially in Germany, leading OECD indicators show.

In France and Italy, the second and third biggest eurozone economies after Germany, the trend was not as strong however, the Organisation for Economic Co-operation and Development (OECD) said on Monday.

In France, leading indicators pointed towards a "stabilisation" of business activity, whereas they had suggested in February that business activity could start to show slight growth.

Italy was also considered to be in a stabilising phase, which would be an improvement from a recent period of decline.

The OECD indicators are designed to identify turning points in the economic cycle, but they also pointed towards sustained growth in both the United States and Japan, the world's biggest and third biggest economies, respectively.

The data for number two China, for India and to a lesser extent for Brazil suggest that economic growth will continue but at a pace that is below trend, while Russia was tipped to benefit from a rebound in activity.

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