Composite leading indicators continue to point to stable growth momentum in the OECD area
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to stable growth momentum in the OECD area as a whole.
Stable growth momentum in the OECD area
The CLIs for the United States and Canada continue to indicate stable growth momentum. This is also the case for the United Kingdom, where the growth momentum is stabilising at above-trend rates. The CLI for Japan points to an interruption in the growth momentum although this probably reflects one-off factors.
In the Euro Area as a whole and in Italy, the CLIs continue to indicate a positive change in momentum. In France,theCLI points to stable growth momentum. In Germany, the CLI suggests that growth is losing some of its momentum, but from a high level.
Concerning the major emerging economies, the CLIs point to growth below trend in Brazil and to growth around trend in China and Russia. The CLI indicates a positive turning point in India, suggesting a return to faster growth.
Source: Organization for Economic Co-operation and Development
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