OECD composite leading indicators (CLIs) for August 2010 reinforce signals of slowing economic expansion already seen last month. The CLI for the OECD area decreased by 0.1 point in August 2010, marking the fourth month in a row that the index has shown negligible or negative growth.

The outlook given by the CLIs for Canada, France, Italy, the United Kingdom, Brazil, China and India points strongly to a downturn. Stronger signals of a peak are emerging in the United States. For Germany, Japan and Russia the CLI points to a continuation of the expansion phase.

Possible peak in the OECD area