Economic Momentum Regained In Most Major Countries: OECD

The potential for stronger growth has been regained in most major countries, according to a compilation of indicators for February by the Organization for Economic Cooperation and Development.

The OECD's composite leading indicators, or CLIs, which are designed to anticipate turning points in economic activity relative to trend, showed strong signs of regained momentum in Japan and the United States, the Paris-based research organization said Tuesday.

Brazil, India, Russia and China showed positive signals compared with the previous month's assessment. Germany and Britain continued to show positive change in momentum.

CLIs for Italy and France, however, still point to sluggish economic activity.

A few months ago, many major global economies were showing signs of weakness -- Europe was struggling with austerity, China with waning government stimulus measures and the United States with high gasoline prices.

Now, some of these same countries are on the brink of regaining vigorious growth prospects, according to the OECD.