OECD CLI maintains upward trend in January 2004

OECD CLI maintains upward trend in January 2004

According to a statement released by the Organization for Economic Cooperation and Development (OECD), OECD Composite Leading Indicator (CLI) rose to 123.3 in January from 122.9 in December. The OECD CLI is designed to provide early signals of turning points between expansions and slowdowns of economic activity. In January, CLI showed a continued improvement in Canada, France and UK, however it indicated a weaker tendency in Italy. In addition, the aggregate index for US also soared to 133.4. However, OECD expressed that another measure which calls the six month rate of change, decreased for the first time in US after nine consecutive months of strong increases. The Euro zone CLI rose by 0.1 point in January while its six month rate of change fell in the aforementioned period following seven months of increases. The CLI for Japan increased by 0.2 point, however its six month of change remained stable in January. CLI for UK rose by 0.6 point in the aforementioned period and its six month rate of change was also up. CLI for Canada soared by 1.3 point in January and its six month rate of change has shown an upward trend since May 2003. France's CLI rose by 0.6 point in January. Moreover, CLI for Italy decreased by 0.3 point in January and its six month rate of change was down in the four consecutive months.