The Organization for Economic Co-operation and Development said Friday that leading indicators are still pointing to economic growth, but the trend is continuing to weaken.

The OECD reports that its composite leading indicators for May “continue to point to an expansion but with stronger signals of a slowing pace of growth than in last month’s assessment.”

The leading indicator for the OECD area increased by 0.1 points in the month, which is the 10th consecutive monthly deceleration.

Peaks in the growth cycle have emerged in France, Italy, China and India, it says, and tentative signs of a peak are emerging in Canada, the UK and Brazil.

The leading indicators for Germany, Japan, the United States and Russia “continue to indicate that the ongoing expansion in activity is likely to be maintained, but possibly at a slower pace,” it adds.

IE