OECD indicators signal slowdown in member economies

The Organization for Economic Cooperation and Development (OECD)'s latest composite leading indicators (CLIs) are pointing to a slowdown, not only among OECD members but also in leading non-member economies, said the Paris-based think tank on Monday. According to the OECD's press release the CLIs for July continue to "point to a slowdown in economic activity" in most member countries, especially in Canada, France, Germany, Italy and Britain. The CLIs, designed to anticipate turning points in economic activity relative to trend, fell by 0.5 point in July, for the OECD area, reaching 101.6 from a ratio of 102.1 in June. It is the fourth monthly decrease in a row since April. According to the OECD's charts, Canada and Italy dipped under the average rate of 100, with respectively a ratio of 99.7 and 99.6 for July after June's 100.5 and 100.3, while Brazil and India continued their below-average decrease, reaching 95.0 and 95.7. As for France's ratio, it attained the exact average of 100.0 in July. The French economy is cited by the OECD among the countries which "are pointing more strongly to a slowdown". Although they are seemingly less exposed, it appears that the Unites States and Russia are also touched by this downward trend. Their CLIs "are now also pointing more clearly" to such a slowdown than in last month's assessment, according to OECD.