ONDON, Jan 17 (Reuters) – Global growth is slowing and the world economy is headed for a recession in 2019 unless something happens to give it renewed momentum.
The OECD’s composite leading indicator fell to just 99.3 points in November, its lowest since October 2012, and down from a peak of 100.5 at the end of 2017.
Growth momentum has been easing for some time in Britain, Canada, France and Italy and there were tentative signs of slackening momentum in the United States and Germany in November.
The composite indicator is likely to fall even further when data for December are published next month, given the weakness already revealed in equity markets and business surveys.
The OECD composite leading indicator has been weakening consistently for the last year and now points unambiguously to a contraction ahead (https://tmsnrt.rs/2HfQKH5).
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WNU Editor: The global economy is “slowing down”, but I think it is too early to say if it is headed for a recession. The U.S. economy is still growing, and even though the Chinese economy is slowing down, it is projecting an impressive 6% growth rate this year. The regions that are not projected to do well are Western Europe and Latin America.