March 2, 2021

The OECD sees signs of economic weakening in Spain, Germany and Italy



The Organization for Economic Cooperation and Development (OECD) sees signs of weakening growth in Spain, Germany, Italy, the euro area as a whole and in the United States.

The monthly advanced compound indicator published this Monday by the OECD for Spain fell eleven hundredths to 99.04 points, an evolution almost identical to that of the euro zone, which also dropped eleven hundredths to 99.06 points, below the level 100 that marks the long-term average.

The indicator declined with more intensity for Germany (17 cents to 98.88 points), Italy (15 cents to 98.88 points) and the United States (13 cents to 98.84 points).

On the basis of these indicators, which indicate in advance inflections in the economic cycle, the OECD indicated that the trend is stable for Japan, Canada, France and the United Kingdom, although on this last country he pointed out that important margins of error remain due to uncertainties around the "brexit" or its exit from the European Union.

In practice, the declines were contained for Canada (six hundredths to 98.77 points), Japan (seven hundredths to 99.33 points) and France (five hundredths to 99.13 points), while in the case of the United Kingdom there were a slight rise for the second month in a row (two hundredths up to 98.70 points).

Mexico had the highest monthly increase of the indicator among all members of the known as the "Club of developed countries", from 45 cents to 100.08 points. It was placed above the long-term average.

(tagsToTranslate) OCDE (t) weakening (t) Spain (t) Germany (t) Italy



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