YEREVAN, February 10. / ARKA /. Growth is set to pick up in most large developed economies during the first half of 2014 and to stabilize in most large developing economies, with the exception of India, according to leading indicators published Monday by the Organization for Economic Cooperation and Development (OECD),vestifinance.ru reported.
The leading indicators suggest that a rebalancing of global economic growth is under way, with large developing economies playing less of a key role than they did in the years following the onset of financial crisis of 2008.
But with growth in developed economies still modest and vulnerable to setbacks, the stabilization of growth rates at relatively weak levels in large developing countries has led to concerns about the strength of the global economy as a whole this year.
According to the indicators--which are based on information available in December--economic growth is set to pick up in the U.S., U.K. and Japan, and is also likely to accelerate in the euro zone. While the currency area's recovery will continue to be led by Germany, there are also signs that economic growth is set to pick up in France and Italy.
The leading indicator for France rose to 100.5 in December from 100.3 in November, while the leading indicator for Italy rose to 101.3 from 101.2.
A reading of 100.00 for a leading indicator means economic growth is set to be at the trend rate, which itself varies widely among large economies. China's trend rate of growth is much higher than Germany's, for example.
The leading indicator for the OECD's 34 members rose to 100.9 from 100.8 in November. -0-