OECD forecasts growth for Canada's economy

The Organization for Economic Co-operation and Development remains bullish about the prospects for Canada's economic recovery.

In its May outlook, the OECD says an analysis of composite leading indicators points to increasing growth momentum in both Canada and China.

It also finds continuing growth in the United States, Germany and Russia.

But it says the pace of expansion in France and the United Kingdom will be weak, while Italy, Brazil and India are also facing a slowdown in growth rates.

The Paris-based organization says its leading indicators index is meant to anticipate turning points in economic activity relative to the trend.

Because of the natural disaster in Japan, the OECD did not provide an estimate for that country in its May outlook.