The OECD’s chart of its composite leading economic indicators for the US looks like the beginning of the second phase of a double-dip recession could be developing. More broadly, the indicators are bearish for most major economies.
Compared to last month’s assessment, stronger signs of turning points in growth cycles have emerged in the United States, Japan and Russia. The CLIs for Canada, France, Germany, Italy, the United Kingdom, Brazil, China and India continue pointing to slowdowns in economic activity.
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