The OECD’s composite leading indicator index for the UK fell in June – as it has done every month since January – indicating that the activity is in “slowdown”.
For both the OECD area and the G7 leading nations, the index has been negative for the past three months, indicating a “possible peak” on both fronts.
According to the OECD index, activity has been deteriorating in France, Germany, Italy and Canada at an even faster pace than the UK.
However, growth had recovered much more sharply before their recent slide.
The UK is close to falling below its ‘trend rate’, which the OECD scores as 100. In the latest index, the UK’s reading was 101. Italy and France are currently faring worse, however, with readings of 100.2 and 100.6 respectively. Canada is also closer to trend, at 100.5.
The US indicator pointed to a “possible peak”, which accounted for the OECD putting the world and the G7 nations in a similar position.
