12/09/2011
By Adam Cadle
The Organization for Economic Cooperation and Development (OECD)’s Composite Leading Indicators (CLIs) fell 0.5 points for the OECD area in July, indicating that slow economic growth across Europe is set to continue.
Statistics for July showed that the CLI for the OECD area fell from 102.1 to 101.6, with the UK also experiencing a fall from 100.9 to 100.4. This was the fourth monthly decline.
There was also a slowdown in economic growth in the Euro area where CLIs fell from 101.5 to 100.8 in the same period. France, Germany and Italy also witnessed falls of -0.6, -1.0 and -0.8 points respectively.
The OECD has predicted that Japan could experience a ‘potential turning-point’ in its growth cycle outlook as its leading indicators have remained unchanged for the third straight month and also has a year on year growth rate of 3.4%.
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