Composite leading indicator readings (CLIs) are pointing to a peak in economic growth, the Organization for Economic Cooperation and Development (OECD) says.
The latest CLI data — which tracks cyclical economic data in an effort to anticipate turns in growth trends — indicates that growth for the OECD area overall may reach a top in the months ahead, the group said.
In last month’s data there were signs that growth was peaking in major economies, such as the U.S., Japan, Germany and the U.K.
“Similar signals have now emerged in Canada and the euro area as a whole, including Italy,” the OECD said.
The data points to growth losing momentum in China and deteriorating in Brazil, the report noted. The CLI indicates stable growth in India, while data for Russia “continues to point to a steady increase in growth above long-term trends,” it said.