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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 easing growth momentum in most major economies.

The CLIs continue to anticipate easing growth momentum in the United States, Japan, Canada, the United Kingdom and the euro area as a whole, includingGermany and Italy. In France, the CLI now points to stabilising growth momentum.

Among major emerging economies, the CLI for India continues to anticipate stable growth momentum, with similar signs emerging for the industrial sector inChina. In Brazil, growth gaining momentum remains the assessment while in Russia the CLI continues to point to easing growth momentum.