The Organization for Economic Co-operation and Development (OECD; Paris; www.oecd.org) released its global composite leading indicator (CLI) for July, and the data “point to stable growth momentum in most major economies,” according to the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
The OECD CLI+6 (leading indicators for the OECD member countries plus six major non-OECD economies) increased 0.1% in July and is now up to 3.7% over its level from a year ago, the ACC report says.
Looking at individual countries, the economies of the U.S., U.K. and Canada continue to point to stable growth momentum, while that for Japan indicates an interruption in growth, though “this may be related to one-off factors,” the ACC points out. Growth in the Indian economy continues to gain momentum, while growth momentum in Russia and China CLIs seems to be stabilizing, the report adds.