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Economy in Brief

OECD Leading Indices Drop: Except Japan
by Robert Brusca February 8, 2008

The OECD indices sure do look like ‘slowdown’ but with the exception of Japan, the indicated weakness is not yet that severe. In the case of Japan, while the OECD reading had been severe, its low point has passed as Japan’s signal now points to recovery, diminishing the sour signal. Over the preferred horizon to view these indicators, six months, it is the US that is weakest in this grouping.

With the G-7 meeting this weekend there is not much cheer from theses indicators. While the OECD measures have Japan on the mend, Japan’s own domestic yardsticks are still producing increasingly weak readings for some of its preferred cyclical measures.

OECD Leading Indicators by Main regions/countries
  Dec-07 Nov-07 Oct-07 3-Mo 6-Mo 12-Mo
OECD -0.2% -0.1% 0.1% -0.7% -2.8% -0.2%
OECD 7 -0.3% -0.1% 0.0% -1.7% -4.0% -1.8%
OECD Europe -0.2% 0.1% 0.1% -0.1% -2.1% -1.3%
OECD Japan 1.1% 1.0% 0.5% 11.0% -1.9% -3.9%
OECD US -0.6% -0.5% -0.2% -5.0% -5.0% -0.8%
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