08/08/2013 - Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to signal diverging growth patterns across major economies. The CLIs point to moderate improvements in growth in most major OECD countries but stabilising or slowing momentum in large emerging economies.
The assessment this month is practically unchanged from last month’s assessment in all major economies except China where the CLI is now pointing to slowing momentum.
The CLIs for the United States, Japan and the United Kingdom point to economic growth firming.
In the Euro Area as a whole, the CLI continues to indicate a gain in growth momentum. In Germany, the CLI points to growth returning to trend. The CLI for Italy continues to signal a positive change in momentum while the CLI for France points to relatively stable momentum.
The CLI for Canada points to growth close to trend rate. The CLI for India continues to show signs of a tentative positive change in momentum. On the other hand, the CLIs for Russia and Brazil continue to point to slowing momentum.
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