RIO DE JANEIRO, BRAZIL - The Organization for Economic Cooperation and Development's (OECD) composite advanced indicators for August point to a moderation trend in economic growth in developed countries. Brazil appears as the only large economy with a "growth slowdown" trend.
These indicators are designed to anticipate turning points in economic activity relative to the trend. The August results confirm what certain economists have warned about: the delta variant seems to be sowing the seeds of doubt. That is, growth remains at above-trend levels in the US and the eurozone but is moderating.
Four cyclical phases are defined in . . .