OECD composite leading indicators for March 2010
Posted on 11 May 2010
The OECD released its CLI for March last night (you can find it here). In the OECD’s words, “the OECD CLI for March 2010 point to a slowdown in the pace of economic activity”. The slowdown is being lead by China that has been contracting since January.
China is creating a drag on Asia and emerging markets generally, in particular, it looks like Brazil’s recovery has stalled. The developed world continued to expand but at a slowing pace. This meant that the broadest measure of the OECD’s indicators – the CLI for the OECD nations plus six (China, Brazil, India, Indonesia, Russia and South Africa) remained on the positive side of the ledger but with the momentum fade gaining pace:
Finally, Australia’s expansion also continued for March but again at a slower pace. With another couple of interest rate rises to be captured in the April and May data, in addition to the China retrenchment, be interesting to see where this takes us.
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