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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.  Stable growth momentum remains the assessment for the United States, Japan, Canada and

the euro area as a whole, including France. In Germany and Italy, the CLIs continue to anticipate growth gaining momentum. In the United Kingdom, the CLI points to easing growth.

 

Amongst major emerging economies, the CLIs continue to anticipate signs of growth gaining momentum in the industrial sector in China, with similar indications now flagged in Russia. The outlook continues to point to firming growth in Brazil and stable growth momentum in India.