Top Economies Signal Recession May Be Easing: OECD

"Leading economies are showing fragile signs that the economic crisis driving recession in many countries may be easing or have reached a low point, the Organization for Economic Cooperation and Development (OECD) said on Monday on the basis of April data. But the damaging effects of the global crisis are still worsening in many emerging economies, the OECD said.... Countries outside the 30-member OECD group 'still face deteriorating conditions, with the exception of China and India, where tentative signs of a trough have also emerged.'..." [Agence France Presse (6/8)/Factiva]

Dow Jones adds that "...the figures continue to point to a 'possible trough' for most developed economies as a whole, with the Composite Leading Indicator (CLI) for the OECD's 30 members rising for a second straight month to 93.2 in April from 92.7 in March.... Among the large developing economies, China once again showed the clearest signs of revival, with its leading indicator rising to 94.3 from 93.4. The leading indicators for India also rose in April to 93.9 from 93.5 in the previous month. Indicators for Brazil and Russia continued to fall, however...." [Dow Jones (6/8)/Factiva]