OECD-improving outlook in all G7 countries bar US

PARIS, Marh 10 (Reuters) The economic outlook has improved in all the Group of Seven leading industrial nations except the United States, according to an early warning indicator issued on Friday by the OECD.

The Paris-based think-tank said a leading indicator for the 30-nation OECD area rose to 106.3 in January from 106.0 in December with the indicator for the combined G7 rising to 104.5 from 104.3.

''Moderate expansion lies ahead in the OECD area,'' it said.

''January data show improved performance in the CLI's (composite leading indicator's) six-month rate of change in most of the major seven economies, with the most positive signals observed in Japan, Germany, and Canada. However, slightly weaker performance is evident in the United States.'' The indicator for the United States eased to 105.9 from 106.0 in December, its first decline since August 2005.

The indicator for Japan -- where the central bank on Thursday ended a five-year old, ultra-loose monetary policy -- rose to 101.2 in January from 100.7 the previous month.

The Japanese indicator's six-month rate of change, a less volatile measure, rose for the ninth month in a row.

The composite leading indicator for the 12-member euro zone rose by 0.5 point in January to 108.0 and its six-month rate of change rose for the eight consecutive month. Germany, the bloc's biggest economy, saw its indicator rise to 112.0 from 111.2.

For table of data click on [ID:nPAB002399] REUTERS SY HS1712