The OECD super-index falls again. The international body notes new signs of a slowdown in the economic recovery among advanced countries, recording in August the fifth consecutive month of weakening of its forecast super index on the economy. Over the long term, it is expected that it will drop below the 100-point threshold, below which Italy has already fallen.
In the OECD area, the score dropped by 0,5 points from the previous month and by 0,9 points in the year-on-year comparison. For Italy, the super-index fell by 1,1 points from the previous month, finishing at 97,9 points against 100,8 points in the OECD area, while on an annual basis on the peninsula it marks the largest negative change, minus 5,5 points.
The OECD notes that now also on the United States, Germany and Russia the super-index points to weakening more sharply than before, although in these countries it remains above the long-term averages.
In the euro area, the super-index dropped by 0,9 points on month in August and by 3,4 points on year, in the USA it decreased by 0,6 points on month while on an annual basis it maintained a dynamic of increases, equal to 1,2 points. On the g7 as a whole, the Cli fell by 0,6 points on a month and by 0,4 points on an annual basis.
The survey also signals similar dynamics in Germany, the leading economy in the euro area where the Cli fell by 1,3 points on a month and by 4,1 points on a year. Against France he scored minus 0,9 points on the month and minus 3,4 points on the year. The exception in this bearish picture is Japan, where the super-index remained stable on a monthly basis, registering an increase of 1,9 points on year, even if the data could be distorted by the effects of the post-earthquake reconstruction.
The slowdown is generalized and not only in the G7 countries, it has for some time now also involved the major emerging economies which, although not part of the OECD, are monitored due to their relevance. In China the super-index fell by 0,3 points on a monthly basis, in India by 0,7 points, in Russia by 0,3 points and in Brazil by 1,2 points.
