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OECD Composite Leading Indicators, May 2003
"Quick Print"
The OECD Composite Leading Indicator shows improved performance in May 2003
04/07/2003 - Slow to moderate growth ahead in the OECD area, the United States and the Euro area is indicated by the composite leading indicators (CLIs). May data indicate recent improved performance in the United States and the Euro area whilst downward pressures are more evident for Japan.
The CLI for the OECD area rose by 1.0 point in May 2003 to 121.1 from 120.1 in April. Its six-month rate of change also rose significantly after showing a downward trend since May 2002.
The CLI for the United States increased by a strong 1.6 point in May. Its six-month rate of change was also up substantially after three months of negative or unchanged rate of change. The Euro area’s CLI rose by 0.6 point in May and its six-month rate of change turned up as well after falls for 11 consecutive months. In May, the CLI for Japan was down by 0.1 point and its six-month rate of change has shown a downward trend from December 2002.
The CLI for the United Kingdom rose in May and its six-month rate of change improved for the second consecutive month after showing a strong downward trend since June 2002. The CLI for Canada jumped 2.6 point in May. Its six-month rate of change also turned up following a downward trend registered since May 2002. The CLI for France increased in May and its six-month rate of change has improved over the last two months after four consecutive months of falls. The CLI for Germany rose slightly in May and its six-month rate of change increased after 11 consecutive months of falls. Finally, the CLI for Italy increased in May, as did its six-month rate of change.
Tables and Graphs
Methodological Notes
Go to CLI Data and Methodological Information for CLI data for the 23 countries including trend restored CLIs, annualised 6-month rates of change and reference series long-term rate as well as OECD methodology.
Glossary
More on CLIs: http://www.oecd.org/std/cli
The next publication date of the OECD's CLI will be on 8 August 2003.
For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org.
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