OECD composite leading indicators (CLIs), designed to anticipate turning points in economic activity, suggest a stabilisation in the pace of expansion across the OECD.

Similar to last month’s assessment, growth prospects vary across major economies. But tentative signs of convergence in economic cycles are appearing in many countries. The October 2010 CLIs for the United States and China, and to a lesser extent France, show signs of improvement compared to last month, while the CLIs for Germany and Japan show moderation towards a stable pace of expansion. The CLI also continues to point to expansion in Russia.

Downturn signals are still evident for Canada, Italy and India, while Brazil remains in a slowdown phase.

The OECD Development Centre's Asian Business Cycle Indicators (ABCIs) suggest that the strong recovery seen in ASEAN economies in the first half of 2010 is gradually losing momentum.

Stable pace of expansion in the OECD area