The latest composite leading indicator readings signal a possible change in economic momentum for Canada, amid an apparent positive turn for the global economy.
The Paris-based Organization for Economic Co-operation and Development said Monday that the composite leading indicator, which is designed to anticipate turning points in economic activity relative to trend, continues pointing to a positive change in momentum in the OECD as a whole.
The United States and Japan continue to drive the overall position, but stronger, albeit tentative, signals are beginning to emerge within all other major OECD economies, including Canada, it says. The Euro area as a whole is also showing signs of a turnaround.
The OECD says that the CLIs for India and Russia are also showing stronger signs of a positive change in growth momentum. However the indicators for China and Brazil continue to point to below-trend growth.