A monthly survey by the Organisation for Economic Cooperation and Development (OECD) shows economic conditions are stabilising in China and Brazil, news agency Reuters reported on Monday.

On an index where 100 represents the long-term average, the OECD composite leading indicator for China stood at 98.4 compared with 98.3 a month earlier. The indicator is designed to anticipate turning points in economic conditions.

The reading for Brazil rose from 99.3 to 99.5, Reuters reported.

“Amongst the major emerging economies, the [indicators] for China and Brazil confirm the tentative signs of stabilisation flagged in last month’s assessment,” the Paris-based OECD said.

Financial news agency Bloomberg reported earlier this month that a weekly survey of analysts polled by Brazil’s central bank pointed to a 2.95 percent economic decline in the country this year, after a contraction of 3.71 percent in 2015.