CLIs indicate turning point in China, Italy

PARIS -- A turning point in the economic cycle begins to take shape in China and Italy, according to the CLIs released Monday by the Organization for Economic Cooperation and Development.

The latest composite leading indicators, or CLIs, designed to anticipate turning-points in economic activity relative to trend, show diverging patterns across major economies.

Hovering at 0.01 percent in August and September, the CLI for China has accelerated its growth by 0.03 percent in October which stands at 99.6, while in Italy it rose by 0.03 percent in September, then continued to climb up 0.06 percent in October, which indicate that "signs of turning points in the cycle are beginning to emerge" in both countries, the OECD said in its latest CLIs report.

Tentative signs of stabilization in growth have also emerged in India, but in Brazil tentative signs of positive growth momentum predicted in recent months is dissipating.

The CLIS for Canada, Japan, Russia, Germany, France and the euro area as a whole continue to point to weak growth. However, the OECD figure shows that in the United States and Britain where consumer confidence picked up strongly last month, the CLI continues to point to economic growth firming, with data stand at 0.09 percent and 0.23 percent in October respectively.

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