OECD: Economies may have peaked
The Organization for Economic Cooperation and Development said Monday its composite leading indicators (CLI) for July “point to clearer signs of a moderation in the pace of expansion compared to last month's assessment.”
The group, which has 33 members, said the CLI for the OECD area decreased one-tenth of a point in July.
In Canada, France, Italy, the United Kingdom, China and India, “there are stronger signals of a slower pace of economic growth in coming months than was anticipated in last month's release. Stronger signals that the expansion may lose momentum have emerged in Japan, the United States and Brazil. Tentative signals have also emerged that the expansion phases of Germany and Russia may soon peak,' OECD said.
The group said its indicators show “recovery of ASEAN economies keeps on track with some signs of moderation.”