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OECD: Global growth risks- Westpac

FXStreet (Guatemala) - Richard Franulovich, analyst at Westpac Banking Corporation noted that the latest OECD leading indicators do not make for happy reading on the global economy.

Key Quotes:

"Both consensus and the Fed may have revised up 2015 growth expectations in recent weeks but within that a clear slowing in the industrial sector is playing out. The 3, 6 and 12 month growth rates in the OECD’s leading index for the US are all negative (left hand panel below).

The 3mth annualised growth rate has now been negative for 11 consecutive months, the longest stretch since the 2007/2008 financial crisis, though on the positive side the pace of slowing appears to be moderating. The dislocation in the US energy patch and the strong USD are of course the main headwinds.

The slowing in the US industrial sector is observable in a wide array of other data. The Conference Board’s leading index is not as weak as the OECD’s but a slowing is nevertheless observable in the 3, 6 and 12 month growth rates too."

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