The Chinese and Brazilian economies are stabilizing while advanced economies are seeing steady momentum, the Organization for Economic Cooperation and Development said on Monday, Reuters reported. The Paris-based organization said its December monthly composite leading indicators, which are supposed to capture economic turning points, confirmed the “tentative signs of stabilization” in China and Brazil seen in November. For months, economists have been worried about the state of the Chinese economy. As the world’s second largest economy, a slowdown of the Chinese economy could drag down the economy of the entire world. Fortunately, China’s economic slowdown may end later this year according to an OECD report in January. While momentum was stable in the broader OECD, the indicators for the United States and Britain were suggesting easing growth with similar signals emerging in Canada and Japan. “In the eurozone as a whole, and in Germany and Italy, CLIs signal stable growth momentum while in France the outlook is for firming growth.”
