Dynamics of the leading indicators tracked by the Organization for Economic Cooperation and Development (OECD) pointed to the continued weakening of growth in major developing countries - Brazil, China and Russia, says the latest OECD report.
At the same time, developed countries as a whole and the United States and Canada in particular maintained a stable growth. In the UK, growth has stabilized at a level above the long-term trend.
In the euro area, for example in Italy, indicators point to a positive change in the pace of development. At the same time there is still a steady rise in Germany and France - the leading countries of the euro currency bloc.
In Japan, there are signs of weakening growth, but this may be due to one-off factors: April 1, the government raised the consumption tax (VAT analogue) from 5% to 8%, which initially has a negative impact on the consumer sector and through it to the economy as a whole.
The index of leading indicators in the OECD in last April remained at 100.6 points for the fifth month in a row. Indicator stays above 100 points, which says about maintaining the level of economic activity above average for the long term.
OECD statistics for the euro area showed 101.1 points, just like in last March. Italian index rose from 101.4 to 101.6 points. French indicator has not changed - 100.3 points, as the index of leading indicators in the U.S. and the UK, which made accordingly 100.5 and 101.1 points.
In Japan and Germany rates decreased from 100.7 points to 100.6 points respectively.
Value of the Russian index decreased from 99.3 to 99.2 points, the Brazilian - from 98.6 to 98.5 points, while Indian and Chinese indicators remained at 97.9 and 98.6 points.
The value of the index of leading indicators for the "Asian five" (China, India, Indonesia, South Korea and Japan) in the last month dropped from 99.1 to 99 points precisely.
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USDCHF – June 9th 2014
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