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The reasons for the low CLIs are historically high inflation, low consumer confidence and declining share price indices. This is the case for Canada, the United Kingdom and the United States, as well as in the euro area as a whole, including France, Germany and Italy, OECD said on its website.
The Organisation for Economic Cooperation and Development (OECD) composite leading indicators (CLIs), designed to anticipate turning points in economic activity in near future, continue to point to a deteriorating outlook in most major economies. The CLIs remain below trend and continue to anticipate a loss of growth momentum in most large OECD economies.
In Japan, the CLI continues to point to stable growth around trend. Among major emerging-market economies, the CLI is still declining in China (industrial sector), though showing signs of stabilisation.
In India, the assessment remains for stable growth, whereas in Brazil the CLI continues to point to slowing growth.
Persisting uncertainties related to the war in Ukraine, renewed COVID-19 threats, supply chain disruptions and the impact of high inflation on real household income are resulting in larger-than-usual fluctuations in the CLI components.
Fibre2Fashion News Desk (DS)
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