By Rohan at Data Diary:
The OECD composite leading indicators (original release here) continue to roll over. The broadest of the indicators, that takes in the OECD plus six non-OECD majors, is still on the expansion side of the ledger – just:
Economic growth was held up by the (slowing) recoveries in the US, Japan and Germany. Peaks are looking increasingly evident in the UK, France and Italy. While China is now entrenched in slow-mo:
And is dragging down the Major 5 in Asia:
While Australia is yet to acknowledge the call:
If we are relying on China to pull us through to the ‘next phase’ of the recovery, someone better convince the barman it will be worth his while.