OECD: UK heading towards lasting recovery

11 April 2012

Britain is on the verge of entering a period of sustained economic recovery in the coming months, new research has indicated.

According to the latest Composite Leading Indicators (CLI) report by the Organisation for Economic Co-operation and Development (OECD), the majority of developed nations around the world will experience growth in the near future.

For instance, the body noted that both the US and Japan "continue to show strong signs of regained momentum", while the European CLI also indicates a "potential turning point" for the embattled region in the near future.

However, the OECD also recorded "diverging assessments" for the four major economies on the continent, with the strength of the UK and Germany expected to offset the "sluggish" activity in Italy and France.

Nevertheless, Howard Archer, UK economist at HIS Global Insight, told the Daily Telegraph that Britain is now on course to see a "tentative pick-up" in economic action over the next six months.

By Claire Archer

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