2010-02-08

OECD composite leading indicators (CLIs) for December 2009 provide stronger signals of an expansionary economic outlook than last month. CLIs for the G7 economies as well as China, India, Russia and Brazil,  are now all close to, or above, their long term trends. In all these countries, industrial production - the underlying reference series for the CLIs - has now reached its trough. etc.

In February 2010, the OECD reviewed the CLI for 8 countries (Brazil, China, Indonesia, Ireland, Korea, the Slovak Republic, Switzerland, the Russian Federation). In doing so, some component series have been dropped or replaced. As a consequence, chronology of turning points of the CLIs as well as component series have been revised. The methodology used to compile OECD CLIs and reference series trend is described in the following document: "OECD system of Composite Leading Indicators".

For a better interpretation of OECD CLI consult the following document: Interpreting OECD Composite Leading Indicators (CLI). The next publication of the OECD's CLI will be on 5 March 2010.