The OECD’s leading indicators for the global economy suggest that GDP growth is continuing to slow.
As the above chart from the American Chemistry Council shows, the OECD’s three key indicators have all slipped from H1 2010′s peaks. The composite indicator (blue) has fallen sharply to +5% from +13%, whilst industrial production (red) is down to +8% and global trade (green) to +13%.
The reason seems to be a more varied performance by individual countries. The ACC note that:
• USA, Germany and Japan are seeing “robust expansion” relative to trend.
• Canada, France and the UK are now seeing “moderate expansion“.
• But indicators for India are “pointing towards a slowdown.”
• And for China and Italy they “point to a downturn“.