OECD CLI drops slightly in May

OECD CLI drops slightly in May

Organization for Economic Cooperation and Development (OECD) announced that its Composite Leading Indicator (CLI) decreased slightly to 103.7 points in May from 103.8 points registered in April. The CLI showed weakening performance in all of the Group of Seven (G7) major economies except Canada. The CLI for the US decreased by 0.2 point in May and its six-month rate of change fell sharply. The Euro area's CLI rose by 0.3 point in the mentioned period, but its six-month rate of change indicated a drop. The CLI for Japan and UK fell by 0.5 point and 0.3 point respectively. These countries six-month rate of change also declined in May. The CLI for Canada increased by 1 point and its six-month rate of change shows an upward trend since April 2003. The CLI increased by 0.6 point and 0.3 point for France and Germany while it recorded a 0.4 point decrease for Italy.