OECD Composite Leading Indicators (CLIs) for October 2003 - Updated: December 2003

OECD Composite Leading indicators, October 2003

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The OECD Composite Leading Indicator continues its upward trend in October 2003

05/12/2003 - Moderate to strong recovery lies ahead in the OECD area according to the latest composite leading indicators (CLIs). October data signal continued accelerating performance in the United States and improving performance in the Euro area, in particular for Germany and France. 

 The CLI for the OECD area rose by 1.3 point in October 2003 to 126.4 from 125.1 in September. Its six-month rate of change has also risen significantly since April 2003, following a decline that began in May 2002.

 The CLI for the United States increased by a strong 2.6 points in October. Its six-month rate of change was also up substantially for the seventh consecutive month. The Euro area's CLI rose by 1.0 point in October and its six-month rate of change was up for the sixth consecutive month, following 11 straight months of declines. In October, the CLI for Japan was unchanged and its six-month rate of change was down following increases for the previous five months.

 The CLI for the United Kingdom rose by 0.1 of a point in October and its six-month rate of change improved for the seventh consecutive month after showing a strong downward trend since June 2002. The CLI for Canada increased by 1.6 point in October. Its six-month rate of change was also up for the sixth consecutive month, following a downward trend registered since May 2002. The CLI for France increased by 0.9 of a point in October and its six-month rate of change has shown increases for the past seven months. The CLI for Germany rose by 1.6 point in October and its six-month rate of change has shown strong increases over the past six months after 11 months of declines. Finally, the CLI for Italy decreased by 0.3 point in October and its six-month rate of change was also down after having shown increases for the previous five months.

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

The next publication date of the OECD's CLI will be on  9 January 2004.

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