A leading indicator of economic activity in the Organization for Economic Cooperation and Development (OECD) area signaled moderate improvements in growth in most of the major countries, and stabilizing or slowing growth momentum in large emerging economies, latest data showed Thursday.

The composite leading indicators for the OECD area economy, designed to anticipate turning points in economic activity relative to trend, increased 0.12 percent sequentially to 100.7 in June. The index has rose at a steady pace since the beginning of the year.

Among member countries, the corresponding sub-indicators showed diverging growth patterns, which were broadly unchanged from those seen in May. China was an exception, where economic growth is now seen losing momentum.

In the United States, Japan and the United Kingdom, economic growth continues to stabilize, and in the whole of the euro area, growth is gaining momentum.

In Germany, growth is returning to trend, and the Italian economy is showing a positive change in momentum. The leading indicator for France points to relatively stable momentum, and the measure of activity in Canada points to growth close to trend rate.

The Indian economy continues to experience a tentative positive change in momentum, while Russia and Brazil continue to witness slowing momentum, data showed.