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OECD now also detects signs of economic slowdown in the US.

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The OECD now perceives signs of an economic slowdown in the United States, as it had already detected for months in the euro zone, in the United Kingdom or in Canada due to the effect of high inflation, the low level of consumer confidence and the downturn of stock indices.

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This is the main change in trend in the advanced composite indicators published this Monday by the Organization for Economic Cooperation and Development (OECD), which in a statement indicates that the current uncertainties due to the war in Ukraine and COVID lead to more important fluctuations. than usual, and asks for caution when making interpretations.

The indicator for the United States now signals a turnaround in the pace of growth, marking a change from last month’s assessment of stable growth.”, indicates the organization.

The United States, with 100.15 points, is in any case above the 100 level that marks the long-term average.

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The euro zone as a whole also remains above the threshold of 100 points (100.09 points), although in this case the figures have been down for eight consecutive months.

In this downward trend are the large euro countries that are Germany (100.30 points), France (99.11), Italy (100.20) and Spain (100.48), but also outside the European Union (EU) the United Kingdom (100.03 ) or Canada (100.03).

Japan is one of the great exceptions within the member countries of the OECD, since its indicator indicates “stable growth”.

Mexico is one of the members with an indicator that is at the highest levels: 101.75 points, only surpassed by Ireland (102.69 points).

At the other extreme, Chile has been experiencing monthly declines of 98.85 points for more than a year, clearly below the long-term average.

As for the large emerging economies, which are not part of the OECD, those responsible for this statistic consider that the pace of growth in China is going to mark a turning point and they also perceive a slowdown in Brazil. In India, however, the pace of the economy should remain stable.

Source: Gestion

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