Easing growth momentum in the OECD area

Composite leading indicators (CLIs), designed to anticipateturning points in economic activity relative to trend six to nine months ahead,continue to point to easing growth momentum in the OECD area as a whole.

Easing growth momentum remains the assessment for the UnitedKingdom, Canada and the euro area as a whole, including Germany, France andItaly, with similar signs now also emerging in the United States.

In Japan, the CLI continues to point to stable growthmomentum.

Among major emerging economies, stable growth momentum remains the assessment for the industrial sector in China, with similar signs now emerging in India. In Brazil and Russia, the CLIs continue to anticipate easing growth momentum.

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