Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to regained momentum in the OECD area but with divergence between economies.
Compared to last month's assessment, the CLIs for Japan and the United States show stronger signs of improvements in economic activity, pointing towards an expansion. In the Euro area, the CLIs for France and Italy continue to point to sluggish economic activity below long term trend. The CLIs for Germany and most other Euro area economies show slightly more positive signals.
The CLI for the United Kingdom and major emerging economies, in particular China, where the assessment points to above trend growth, are showing stronger positive signals compared to last month's assessment.
Source: OECD