The OECD warns of the deterioration of the growth of Spain

MADRID, 9 Ago. (EUROPA PRESS) -

The composite index of leading indicators (CLI), which serves the Organization for Economic Cooperation and Development (OECD) as an 'economic thermometer' to detect changes in trend, suggests a loss of momentum in growth in Spain, in line with the deterioration observed in most major advanced economies.

"Weighed down by historically high inflation, low consumer confidence and falling equity prices, CLIs remain below trend and continue to anticipate a loss of growth momentum in most of the large economies of the OECD", explained the 'think tank' of the most developed economies.

Specifically, the data for Spain stood at 98.83 points in July, compared to 99.11 the previous month and 2.18 points below the level recorded a year ago.

In the case of the OECD, the CLI stood at 99.2 points, compared to 99.4 in June, which points to a loss of growth momentum, something that also applies to Canada, the United Kingdom and the United States. United States, as well as for the euro area as a whole, including France, Germany and Italy.

In Japan, by contrast, the CLI continues to point to stable growth around trend.

Likewise, outside the OECD, the CLI shows signs of stabilization of the Chinese economy, while for India it continues to point to stable growth and in the case of Brazil it suggests a slowdown in growth.