Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, show diverging patterns across major economies, the Organization for Economic Cooperation and Development (OECD) has stated. In October, the CLI for the OECD area remained stable month on month at 100.2, recording a 0.1 percent year-on-year increase. October is the fourth consecutive month in which the OECD CLI remained stable on month-on-month basis.
The CLIs for Canada, Japan, Russia, Germany, France and the euro area as a whole continue to point to weak growth, while in Brazil tentative signs have emerged that the positive growth momentum predicted in recent months is dissipating. The CLIs for China and Italy, on the other hand, show signs that turning points in the cycle are beginning to emerge. Tentative signs of a stabilization in growth have also emerged in India. Meanwhile, in the US and the UK, where consumer confidence has been picking up strongly, the CLI continues to point to firming of economic growth.