OECD composite leading indicators signal stabilizing growth momentum
CLIs "now point to stabilising growth momentum in the OECD area as a whole following last month's assessment of easing growth momentum," the organization said.
For all OECD economies, the CLIs were almost unchanged at 99 points, while the indicators for the seven major economies pointed to easing growth momentum.
The eurozone's CLIs showed easing growth momentum, notably in Germany and Italy, the single currency bloc's main economic powerhouses. Figures also showed stable growth momentum in France.
In the United Kingdom, "last month's tentative signals of stable growth momentum have now been confirmed, although large margins of error exist due to continuing Brexit uncertainty," OECD said.
The organization's CLIs continue to anticipate easing growth momentum in the United States and stable growth momentum in China's industrial sector.
The OECD's CLIs aim to provide early signals of turning points, such as peaks and troughs, between economic expansion and slowdown approximately six months in advance. ■