OECD: Leading Indicators Point To Slowing Global Growth

by: Cullen Roche

Just in case Europe didn’t have you feeling uncertain enough, new data out of the OECD shows slowing global growth. The latest release (pdf) of leading indicators shows broad weakness:

Composite leading indicators (CLIs) for July 2011, designed to anticipate turning points in economic activity
relative to trend, continue to point to a slowdown in economic activity in most OECD countries and major nonmember economies. The CLI for the OECD area fell 0.5 point in July; the fourth consecutive monthly decline.

Compared to last month’s assessment, the CLIs for Canada, France, Germany, Italy, the United Kingdom,
Brazil, China and India are pointing more strongly to a slowdown in economic activity. The CLIs for the
United States and Russia are now also pointing more clearly to a slowdown in economic activity than in
last month’s assessment.

The outlook for Japan continues to indicate a potential turning-point in economic activity.