Major Economies Are Settling in Rut of Below-Trend Growth

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The world’s major economies are settling in a rut of below-trend growth, according to the October reading of the OECD’s Composite Leading Indicator. The gauge, which is designed to anticipate turning points six to nine months before they happen, shows stable growth momentum for the euro area, Japan and Canada. There are signs of stabilizing momentum in the U.S., Germany and the U.K., although the OECD warned Brexit uncertainty creates “large margins of error.”