OECD says global economy is well conditioned
According to a statement released by the Organization for Economic Cooperation and Development (OECD), the outlook of the global economy shows improvement. OECD announced that its Composite Leading Indicator (CLI) rose to 123.2 points in February from a revised 123 points in January. The January figure was previously stated as 123.3 points. The OECD CLI is designed to provide early signals of turning points between expansions and slowdowns of economic activity. However, it is also reported that CLI starts to weaken slightly in US and Euro zone, particularly in Germany. Meanwhile, the Bank of Japan expressed that the Japanese economy is showing recovery signs after a long term recession. The economic recovery is attributed to the upturn trend of Japan's automobile, electronic and machinery exports. Japan's economic recovery is expected to increase gradually.