The Organization for Economic Co-operation and Development says that its latest composite leading indicator points to continued economic growth, but at a slower rate in most countries.

The CLI for the OECD area increased by 0.4 points in April, slightly lower than the 0.5 point increase in March, it reports. April was the ninth consecutive month that the rate of increase has slowed.

The CLI for Canada was up 0.2 points from the prior month, a slowing from the 0.4 increase recorded in March, although it is still regarded as in the expansionary phase of the growth cycle.

The CLIs for Japan, the United States and Germany also continue to indicate that their ongoing expansion in activity is likely to be maintained, but possibly at a slower pace.

The group notes that tentative signs of a potential peak have appeared in Brazil, with stronger evidence emerging in France, Italy, and especially China.

IE