Indictors, meanwhile, signal stable growth for U.S., eurozone and Japan
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The economic rebound from the pandemic plunge is set to moderate in Canada, Germany, Italy and the UK, according to OECD’s leading indictors.
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The Organisation for Economic Co-operation and Development’s Composite Leading Indicators in November and December signalled the approach of a post-pandemic peak, and its latest measure suggests that peak has now passed for those economies.
“Among major OECD economies, a drop in momentum is visible in the latest CLIs for Canada, Germany, Italy and the United Kingdom,” the OECD said.
Japan, the eurozone and the United States all show stable growth, according to the indicators.
The OECD measure tracks such things as order books, confidence, building permits, new car registrations and long-term interest rates to get a sense of economic activity over the next six to nine months.
The organization, however, does warn that uncertainties from COVID-19’s spread, especially the Omicron variant, could result in higher than usual fluctuations in its indicator.
