The latest Composite leading indicators (CLIs) from the Organisation for Economic Co-operation and Development (OECD) continue to point to growth losing momentum in Europe and to stable growth in the OECD area as a whole.
In Europe, shaped by surging inflation and declining expectations in manufacturing, the CLIs continue to indicate growth losing momentum in the euro area as a whole, including in France, Germany and Italy, as well as in the United Kingdom.
Outside Europe, the CLIs continue to point to stable growth in Canada, Japan and the United States. Stable growth also continues to be anticipated in most major emerging-market economies, in particular China (industrial sector) and India. In Brazil, however, the CLI continues to signal slowing growth.
The CLIs are designed to anticipate fluctuations in economic activity over the next six to nine months.