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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 point to stable growth momentum in the OECD area as a whole. 

The CLIs for the United States, Japan, Canada and the euro area as a whole, including France, continue to anticipate stable growth momentum. In Germany andItaly, growth is expected to gain momentum. However, in the United Kingdom the outlook has continued to deteriorate, with stronger signals of easing growth. 

Amongst major emerging economies, the CLIs point to signs of growth gaining momentum in the industrial sector in China and togrowth firming in Brazil. In Russia and India the assessment remains for stable growth momentum.

ng economies, the CLIs point to growth firming in Brazil and to signs of growth gaining momentum in the industrial sector in China. Stable growth momentum is anticipated in India and Russia