OECD’s economic indicators continue to expand steadily
Expansion continues at a steady pace in the United States, Japan, Canada and in the euro area
The Organisation for Economic Co-operation and Development (OECD) announced that its composite leading indicators (CLIs) continue to expand steadily in the OECD area as a whole and in some large emerging-market economies. The CLIs are designed to anticipate turning points in economic activity relative to trend,
Among major OECD economies, the CLIs remain above trend and continue to expand at a steady pace in the United States, Japan and Canada as well as in the euro area as a whole, including Germany and Italy. The CLI for the United Kingdom is still expanding and has now reached above trend levels. In France, the CLI continues to grow steadily but remains below trend.
Among major emerging-market economies, the CLIs for Russia and China (industrial sector) point to steady increase. In India, the CLI now indicates stable growth whereas it continues to signal slowing growth in Brazil.
The OECD indicates that despite the gradual lifting of COVID-19 containment measures in some countries and the progress of vaccination campaigns, persisting uncertainties might result in higher than usual fluctuations in the CLI and its components.