Recovery 'on track' for OECD countries

World economies including the UK are likely to continue to recover and grow, according to the Organisation for Economic Co-operation and Development (OECD).

It says analysis of key economic indicators in its 30 member countries in October points more convincingly to a sustained recovery than in September's assessment. Germany showed the strongest improvement during the month with interest rate spreads and business confidence showing the best signs of recovery among the G7 richest nations. This was followed by the UK, with the OECD's composite leading indicators (CLI) increasing 1.3 points for the month - 8.8 points higher than a year ago. The CLI for the whole OECD area was up 1 point in October from the previous month and 5.7 points h...