OECD composite leading indicators continue pointing to slowdown in economic activity
- Published on Monday, 14 November 2011 16:09
- Posted by Scott Buckler
Composite leading indicators (CLIs) for September 2011, designed to anticipate turning points in economic activity relative to trend, continue pointing to a slowdown in economic activity in most OECD countries and major non-member economies
Compared to last month's assessment, the CLIs point more strongly to slowdowns in all major economies. In Japan, Russia and the United States the CLIs point to slowdowns in growth towards long term trends.
In Canada, France, Germany, Italy, the United Kingdom, Brazil, China, India and the Euro area, the CLIs point to economic activity falling below long term trend.The OECD expects 0.3% growth in the UK in the last three months of the year, but said the economy could contract by as much as 1%, amid high uncertainty over its projections.
It predicted the Group of Seven largest economies would grow by just 0.2%, while Germany could be most affected by a downturn in global trade.It estimated the German economy would contract by 1.4% in the last quarter of 2011.