OECD sees signs of economic turnaround

Leading indicators are beginning to point to a turnaround in the world's major developed economies, led by the United States and Japan, the OECD said on Monday after months of gloomy data. At the same time, China continues to slow down, at a faster pace than in the last monthly report, while the eurozone reverse showed some moderation, the Organisation for Economic Cooperation and Development said. The indicators, driven by the United States and Japan, show that the OECD area as a whole may be turning the corner, it said in a statement. In the eurozone, Germany, France and Italy were helping as signs emerged that the overall deterioration in the bloc's economy was slowing. Nearly half of the eurozone economies were showing positive changes in their growth dynamic, it said, while among other major developing countries, Russia and India also appeared to be turning for the better.