THE influential Organisation for Economic Cooperation and Development's leading indicator for the UK rose in January, following 11 consecutive months of decline, signalling a possibility that renewed recession as early as the current quarter might be avoided.
The OECD's leading composite indicators are designed to anticipate turning points in economic activity relative to trend. The indicator for the UK edged up from 98.73 in December to 98.87 in January.
Although this was ahead of numbers of 98.07 for Germany and 96.56 for Italy, it was behind respective readings of 102.47 and 102.59 for the US and Japan, and a figure of 99.36 for Canada.
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