OECD Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, pointed to a slowdown in economic activity in all major economies, the Paris-based Organization for Economic Cooperation and Development said Monday.
In its monthly report, the advanced countries advisory group recorded 100.0 points of CLIs for the 34-member OECD area in October, decreased by 0.3 point from the previous month, or 1.9 points less from the same month a year before.
For the 17-member euro area, the October CLIs continued falling below 100 points to 98.5, 0.7 points less on monthly basis and 5.1 points less on yearly basis.
Alike the index of the OECD area and the euro area, CLIs for the major seven advanced economies as a whole as well as the major five Asian countries has kept the downward trend since June, all indicating slowdown in economic activity.
Country by country, their strength of the slowdown recorded some difference. In Brazil, France, Germany, India, Italy and Britain, the CLIs continue pointing strongly to economic activity falling below long term trend.
The CLIs for Canada, China and the United States continue pointing to slowdowns in economic activity around long term trends but with only marginal declines compared to last month, while the CLIs for Japan and Russia point to economic activity above long term trend, with a marginal slowdown for Russia, and a slightly stronger, but still moderate slowdown for Japan. /.