OECD composite leading indicators (CLIs) for May 2010 continue to point to an expansion but with stronger signals of a slowing pace of growth than in last month’s assessment. The CLI for the OECD area increased by 0.1 point in May 2010, the 10th consecutive monthly deceleration.

Peaks in the growth cycle have emerged in France, Italy, China and India and tentative signs of a peak are emerging in Canada, the United Kingdom and Brazil. The CLIs for Germany, Japan, the United States and Russia continue to indicate that the ongoing expansion in activity is likely to be maintained, but possibly at a slower pace.

The OECD Development Centre's new Asian Business Cycle Indicators (ABCIs) for the ASEAN countries, point to a general gain in the momentum of recovery in the second quarter of 2010.

Expansion in the OECD area