Composite leading indicators (CLIs) continue to signal diverging growth patterns across major economies. The CLIs point to improvements in growth in most major OECD countries but stabilising or slowing momentum in large emerging economies.
Consumer prices in the OECD area rose by 1.9% in the year to July 2013 compared with 1.8% in the year to June 2013.
Merchandise trade growth increased in the major economies during the first quarter of 2013. Compared to the fourth quarter of 2012, the value of merchandise imports and exports for the total of G7 and BRICS countries increased by 1.3% and 2.8%, respectively.
Provisional estimates show that quarterly real gross domestic product (GDP) in the OECD area increased by 0.5% in the second quarter of 2013, up from 0.3% in the previous quarter. The OECD total was boosted by an acceleration of growth in most Major Seven economies.