The outlook for the large economies is that their growth will deteriorate, caused by inflation and low consumer confidence.
According to the OECD (Organisation for Economic Co-operation and Development), the Advanced Composite Indicators, developed to advance the change in economic activity for the next six to nine months, "continue to point to a deteriorating outlook in most major economies".
These indicators are "below trend and continue to anticipate a loss of growth momentum in most major OECD economies" due to rising inflation, low consumer confidence and declining stock prices.
The worst affected economies are the UK, Canada and the US, in the eurozone we are talking about France, Italy and Germany, according to an OECD statement.
The OECD added that with the uncertainties of the unfolding War in Ukraine, new threats from Sars-cov-2, disruptions in supply chains and rising inflation in real income of the population give rise to high swings with respect to normality in the components of the advanced composite indicators.
"As a result, the indicators should be interpreted with caution and their magnitude should be an indication of the strength of the signal rather than as a measure of growth in economic activity," the organisation stressed.