Composite leading indicators (CLIs) for October 2015 pointed to a stabilization in most countries of the Organization for Economic Cooperation and Development (OECD), the Paris-based agency said on Tuesday.
CLI for all OECD economies stood at 99.8, stable from September, and indicated the same index growth in medium term.
October CLIs of the the major seven advanced countries (Canada, the United States, France, Britain, Germany, Italy and Japan) as a whole remained unchanged at 99.6 with indicators of the United States and the United Kingdom “show a loss of growth momentum, albeit from relatively high levels,” the think-tank said in a regular report.
In the eurozone, the index was at 100.6 for the fifth successive month with divergence between economies.
Compared to last month’s assessment, France, the second largest European power, witnessed a slight rise in its indicators which gained 0.1 points to 100.9 points and pointed to firming growth momentum.
However, Germany, the main locomotive of European economic growth, reported a decrease of around 0.1 point, indicating a stable growth, according to the report.
“Amongst the major emerging economies, tentative signs of stabilisation are emerging in China as well as in Brazil” whose indicators gained 0.1 and 0.2 point respectively.
In India and Russia, “the outlook continues to be for weak growth momentum,” the Paris-based organization said.
The OECD CLI index is aimed at providing early signals of turning points, such as peaks and troughs, between expansion and slowdown of economy approximately six months in advance.