Brazil, Russia, India and China (BRIC) are showing worrying signs of a decline in economic growth, while the U.S., U.K., Japan and even the euro area are in far better shape, according to a report by the Organisation for Economic Co-operation and Development (OECD).
Using composite leading indicators (CLIs), which anticipate turning points in economic activity, the OECD concluded that there is a continuing divergence in growth patterns across major economies.
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The OECD states, "The CLIs for the United States, Japan and the United Kingdom point to economic growth firming," while, "in the euro area as a whole, the CLI continues to indicate a gain in growth momentum." Italy is currently showing a positive change in its growth momentum, while France's economic picture is stabilizing.
However, Brazil, Russia and China are showing slowing economic momentum, while India, whose CLIs point to a vastly fluctuating economy, is showing signs of a tentative positive change in momentum, although its CLI figure is still down year-on-year.
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