Most of the world's big economies are close to emerging from recession, according to data published yesterday by the Organisation for Economic Co-operation and Development that pointed to a possible recovery by the end of the year.
The Paris-based organisation reported in its latest monthly analysis of forward-looking indicators that a “possible trough” had been reached in April in more developed countries that make up almost three quarters of the world's gross domestic product.
The composite index for 30 economies rose 0.5 points in April, the second monthly rise in a row, after falling for the previous 21 months. The index seeks to identify turning points in the cycle about six months in advance.
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