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Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend six to nine months ahead, continue to anticipate stable growth momentum in the OECD area as a whole.  The CLIs continue to point to stable growth momentum in Japan, Canada and the euro area as a whole. Stable growth momentum is now also

expectedin theUnited States and Italy,whilein the United Kingdom the CLI confirms the tentative signs of easing growth flagged in last month’s assessment. Prospects of growth gaining momentum remain unchanged for Germany and France, as well as for China and Brazil.

 

Amongst other major emerging economies, the CLIs continue to anticipate stable growth momentumin India while in Russia tentative signs of easing growth remain.