Canada’s pandemic recovery has peaked and is losing momentum, the OECD says

Indicators, meanwhile, are signaling stable growth for the US, the euro area and Japan

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The economic recovery from the pandemic is set to slow in Canada, Germany, Italy and the United Kingdom, according to OECD’s leading indicators.

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Organization for Economic Co-operation and Development Compound leading indicators in November and December signaled the approach to a post-pandemic peak, and its recent targets suggest that the peak has now passed for these economies.

“Among large OECD economies, a decline in momentum is visible in recent CLIs for Canada, Germany, Italy and the United Kingdom,” the OECD said.

Japan, the eurozone and the US are all showing steady growth according to the indicators.

The OECD target tracks things like order books, trust, building permits, new car registrations and long-term interest rates to get a sense of economic activity over the next six to nine months.

However, the organization warns that uncertainties from the spread of COVID-19, especially the Omicron variant, may result in larger fluctuations in its indicator than usual.

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