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Composite leading indicators point to moderate growth in major economies: OECD

08 July 2013 22:45 (UTC +04:00)

Baku-APA. Composite leading indicators (CLIs) point to slight pick-up in most major economies in the Organization for Economic Co-operation and Development (OECD)but remain unchanged or slow in large emerging economies, said the OECD on Monday, APA reports quoting Xinhua.

In the Euro Area as a whole, the CLI continues to indicate a positive trend of growth, said the OECD.

The growth trend was posted in Germany, and a positive change in momentum was showed in Italy while "the CLI for France points to relatively stable momentum," according to the OECD.

The CLIs confirmed solid economic growth in the United States and Japan. Britain and Canada are approaching their growth trend in the long term.

Among emerging economies, Brazil and Russia lose their momentum of growth. However, the CLI in India points to a tentative upward change in momentum, while economic growth in China is close to its trend rate.

The OECD Development Centre's Asian Business Cycle Indicators (ABCIs) suggest that the ASEAN's growth momentum remains resilient overall.

Composite leading indicators (CLIs), are conducted and released by the OECD based on its monthly survey and analysis on economic activities. It designed to anticipate turning points in economic activity relative to trend.