Market Commentary and Intraday News
OECD Leading Index Points To Weakening Global Growth
227 days ago
(RTTNews) - Economic growth will likely continue to weaken in most major countries in the coming quarters, data released by the Organization for Economic Cooperation and Development (OECD) showed Monday.
The composite leading indicator for the OECD area, designed to anticipate turning points in economic activity relative to trend, declined 0.07 percent month-on-month to 100.1 in August after falling 0.08 percent each in the previous two months, indicating a further moderation in global growth.
The relevant sub-index for the Eurozone dropped by 0.1 percent sequentially to 99.4 in August, as it did in July, signaling further weakening of growth.
The sub-indexes for the United States and Japan continue to show signs of moderating growth, while in Canada the index points to weak growth. In Germany, France and Italy, the corresponding indexes point to continued weakening of growth.
In China, the indicator signals soft growth, while growth continues to pick up in in the United Kingdom and Brazil, data showed.
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