THE Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend six to nine months ahead, continue to anticipate easing growth momentum in most major economies.

Easing growth momentum remains the assessment in the United States, Japan, Canada and the euro area as a whole, including Germany and Italy.

In France, the CLI continues to point to stable growth momentum.

The CLI for the United Kingdom now points to growth momentum stabilising, albeit around historically low trend growth rates. However, large margins of error remain due to continuing Brexit uncertainty.

Among major emerging economies, the CLIs continue to signal stable growth momentum in China (in the industrial sector) and India and now also in Russia and Brazil‎.