New Delhi, Dec 9 (KNN)  Economic growth will continue to lose momentum in Europe while the outlook is for stable growth momentum in most other major economies and in the OECD area as a whole, according to a report by the Organisation for Economic Co-operation and Development (OECD).

“India is the only major economy where the CLI (Composite leading indicators) points to a clear pick-up in growth momentum,” an OECD press release said.

Composite leading indicators (CLIs) are designed to anticipate turning points in economic activity relative to trend.

In Europe, the CLI for the United Kingdom points to growth easing, albeit from relatively high levels, while in the Euro Area the CLI continues to indicate a loss of growth momentum, particularly in Germany and Italy. Stable growth momentum, however, is expected for France, it said.

Amongst other major economies, the CLIs continue to point to stable growth momentum in the United States, Canada, China and Brazil while tentative signs of a positive change in momentum are emerging in Japan. The CLI for Russia points to growth tentatively losing momentum.  (KNN/ES)