The Organization for Economic Cooperation and Development (OECD) reports that it sees a “tentative” upturn in Canada’s economic fortunes.
The OECD published the latest version of its composite leading indicators (CLIs) today, indicating that it sees a “tentative positive change in momentum” for Canada.
Overall, the CLIs, which are designed to anticipate turning points in economic activity, continue to point to diverging growth patterns between advanced and emerging economies, the group says. The CLIs are generally signaling improvements in growth in most major OECD countries, but they also suggest that momentum in large emerging economies is either stabilizing or slowing, it notes.
Notably, the OECD says that the CLIs point to economic growth firming in the U.S. and UK, and to above trend growth for Japan. In the Euro area, it continues to see a gain in growth momentum.
However, it says that the CLIs point to growth returning to trend in China and to growth that’s about on trend in Russia. In Brazil and India, the CLIs signal growth below trend rates, the OECD says. And, the OECD says that indicators suggest mixed growth prospects across emerging Asia.