Latest OECD Composite Leading Indicators are out (here) – with the June data slipping into the red indicating according to the OECD “a possible peak in expansion”.
‘Possible peak’? Looks pretty much like it is a near certainty. With Europe yet to feel the effects of the communal belt tightening and the US struggling to come to terms with its deteriorating government balance sheet, the economic momentum is favouring the downside.
