The growth outlook for major industrialised economies is picking up, although big differences in momentum remain between countries, the OECD’s leading indicator for December showed yesterday.

The Paris-based group said its December composite leading indicator for 29 of its member countries rose to 102.8 from a revised 102.5 in November, pointing to stronger growth momentum.

Japan, the United States and Germany were leading the charge, it said, with a more moderate outlook for Canada, France and Britain, and signs emerging of a downturn in Italy.

The OECD is predicting global growth of 4.2 per cent in 2011, down from 4.6 per cent in 2010, with wide variations in different countries’ outlooks.