SYNCHRONIZED LIKE RARELY BEFORE!
Composite leading indicators (CLIs) for September 2011 continue pointing to a slowdown in economic activity in most OECD countries and major non-member economies. Compared to last month’s assessment, the CLIs point more strongly to slowdowns in all major economies. In Japan, Russia and the United States the CLIs point to slowdowns in growth towards long term trends. In Canada, France, Germany, Italy, the United Kingdom, Brazil, China, India and the Euro area, the CLIs point to economic activity falling below long term trend.