February 2007 data show weakening performance in the composite leading indicator’s six month rate of change in most of the so-called Major Seven economies (Canada, France, Germany, Italy, Japan, the USA and the UK). The spreads between short and long-term interest rates are contributing negatively to the performance of the composite leading indicators in all the Major Seven economies, while business confidence is contributing positively in these same countries except Germany. The latest data for major OECD non-member economies point to strong expansion in China, moderating expansion in India and Brazil, but a weakening outlook for Russia.
