Composite leading indicators point to positive change in growth momentum in the euro area-OECD

Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to positive change in growth momentum in the euro area, and stable growth momentum in most other major economies and the OECD area as a whole.

In Germany, the CLI confirms the positive change in momentum that was tentatively flagged in last month's assessment. The outlook for Italy and France has also improved, with the CLIs now showing tentative signs of a positive change in momentum.

Stable growth momentum is anticipated amongst most other major economies, including the United States, the United Kingdom, Canada, Japan, China and Brazil. In India, the CLI continues to indicate firming growth, while in Russia the CLI still points to a loss in growth momentum. CLI for India increased by 0.14% in January 2015 m-o-m.

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