Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to weak growth prospects in many major economies, the Organization for Economic Cooperation and Development (OECD) has stated. In September, the CLI for the OECD area remained stable month on month at 100.2, recording a 0.13 percent year-on-year increase. Looking at the five months up to September, the OECD CLI recorded a downtrend from May and August, on month-on-month basis.
The CLIs for Canada, China and the United States show signs of stabilization, while in Italy tentative signs of stabilization are also emerging, compared to recent months when the CLI for Italy pointed to a deteriorating outlook. The CLIs for Japan, Germany, France and the euro area as a whole continue to point to weak growth. In India and Russia, the CLIs also continue to point to weak growth. On the other hand, the CLIs for the United Kingdom and Brazil still point to a pick-up in growth.