OECD Reports Positive Signals on Global Economy

The Organization for Economic Cooperation and Development (OECD) has published its latest reading on its composite leading indicators on the global economy. The data indicate that the global economy is improving, even if slowly:

Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to a positive change in momentum for the OECD as a whole, driven primarily by the United States and Japan, but similar signs are beginning to emerge in a number of other developed economies.The CLIs for India and Russia also show signs of an upward change in growth momentum.

The CLIs for all other major OECD economies, the Euro area and Brazil continue to point to below trend growth. But tentative signs are emerging that the recent deterioration in CLIs is moderating, and the CLIs for seven of the fifteen countries in the Euro area are now pointing towards a positive change in momentum. However, the CLI for China points more strongly to a slowdown this month than in last month’s assessment.

The full press release, with charts and data, is available here.