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Most major economies showing weakening growth – apart from the UK

This is a according to a survey published by the OECD this morning which measures Composite leading indicators (CLIs). These are designed to anticipate turning points in economic activity relative to trend, and show that most major economies will continue to see weakening growth in the coming quarters.

UK economic growth may well be recovering

The CLIs for the United Kingdom and Brazil continue to point to a pick-up in growth. But on the other hand the CLIs for the United States and Japan continue to show signs of moderating growth while in Canada the CLI points to weak growth.

In Germany, France, Italy and the Euro Area as a whole, the CLIs point to continued weakening growth.

In China, the CLI points to soft growth, but tentative signs are emerging that the recent deterioration in the short-term outlook may have reached a plateau. In India and Russia, the CLIs continue to point to weak growth.

So, not a good picture overall but at least the situation is promising for the UK in the near future. In fact the British Chambers of Commerce (BCC) has recently suggested that the UK economy has grown by 0.5% in the three months between July and September, based on a survey of 7,593 UK firms.

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Posted in economic growth

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