12/11/2019 - Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend six to nine months ahead, continue to anticipate stable below-trend growth momentum in the OECD area as a whole.
Within OECD economies, stable growth momentum remains the assessment for France and Canada and is now also anticipated in Japan and Italy, with similar signs now also emerging in the euro area as a whole.
On the other hand, the CLIs for the United States and Germany continue to point to easing growth momentum, which is now also the assessment for the United Kingdom, although large margins of error persist due to continuing Brexit uncertainty.
Among major emerging economies, the CLIs continue to signal stable growth momentum in China (for the industrial sector) and Brazil and now, also, in Russia. In India, easing growth momentum remains the assessment.
Stable below-trend growth momentum in the OECD area
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