The pace of recovery in OECD countries is slowing down after the coronavirus crisis, the 37-nation Organisation for Economic Cooperation and Development said Tuesday.
“The moderation in the pace of growth in CLIs was seen across all OECD major economies,” the OECD said.
CLI stands for Composite Leading Indicators, which “provide early signals of turning points in business cycles – fluctuation in the output gap, i.e. fluctuation of the economic activity around its long term potential level,” as the organisation explains.
In France, the slowdown is particularly noticeable. In China – the country were the pandemic emerged in December 2019 -, the recovery is continuing at a steady pace, while in Brazil it is even accelerating.
The OECD zone economy contracted to a historic level of 9.8% in the second quarter compared to the previous quarter.