The Organization for Economic Cooperation and Development reported that the index of leading indicators suggests a steady growth momentum for the world economy.

The composite index of leading indicators remained stable at 99.8 in October, OECD said on Thursday.

LED indicates that the pace of growth accelerated in several developed economies and strengthened in the major emerging economies.

Signs of growth, which is gaining momentum, appeared in the composite index of leading indicators for the United States, Canada, Germany and France, according to the OECD.

Growth is expected to gain momentum in the emerging markets, namely China and India. At the same time, a steady growth momentum was recorded in Japan and the Euro Zone.