Composite leading indicators are still signaling a slowdown in economic activity in most major economies, but a handful of countries, including the U.S., are showing signs of life, the Organization for Economic Co-operation and Development said Thursday.
The OECD reports that its latest composite leading indicator readings, which are designed to anticipate turning points in economic activity relative to trend, continue pointing to a slowdown in most OECD countries and major non-OECD economies.
However, the indicators for Japan, the U.S. and Russia are “showing stronger signs of a positive change in momentum and remain above long-term trend,” it reports.
Conversely, the leading indicator for China has deteriorated since last month and is pointing to a slowdown in economic activity towards long-term trend, it notes. And, for other major economies, including Canada, and the Euro area, the indicators continue pointing to slowdowns.