OECD June indicator points to mixed recovery

OECD June indicator points to mixed recovery

The Organization for Economic Cooperation and Development (OECD) today announced the composite leading indicator (CPI) in June increased slightly to 103.8 from 103.7 in May. The OECD stated that the increase in the CPI indicates continued economic expansion in the OECD area as a whole but shows a mixed outlook for the major countries. The June data show a weakening performance in the US, UK and Italy, while an improvement is more apparent for France and Canada. For the US, the CLI dropped very slightly to 103.1, from 103.2 in May while its six-month rate of change fell sharply for the sixth consecutive month. The UK CLI in June fell to 101.7 from 102.2 in May, while its six-month rate of change fell for the fourth month in a row. In contrast, France's CLI in June improved 0.7 points from the May level to reach 106.5 and its six month rate of change improved in June after three months of decline. Canada's CLI rose 0.9 points to 105.1, causing its six month rate of change to also increase.