Composite leading indicators (CLIs) designed to anticipate major trends and turning points in economic activity continue to point to a divergence between economies, the Organization for Economic Cooperation and Development (OECD) announced on Monday.
In Japan, the United States and Russia, CLIs "continue to signal improvements in economic activity," the report said.
However, deceleration in these countries' CLIs over the last four months provides tentative signs that growth may be moderate in the near term, the Paris-based association said.
According to the OECD, CLIs in France and Italy continue to point to sluggish economic activity, while those in Germany, Canada, Britain and the euroarea as a whole point towards growth that is slightly below long-term trend.
Overall, the OECD's "major seven" economies showed an above-trend growth.
The assessment for China and India changed significantly since last month. "For both countries, the CLIs point towards economic activity below long-term trend," the report said.
The CLI for Brazil continues to point towards a turning point with economic activity returning towards long-term trend but with weaker intensity.
"The OECD development centre's asian business cycle indicators suggest some signs of resilience for ASEAN economies," the report added.