Composite Leading Indicators (CLIs), OECD, July 2011


The OECD composite leading indicators point to slowdown in most major economies

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11/07/2011 - Composite leading indicators (CLIs) designed to anticipate turning points in economic activity relative to trend, point to a slowdown in most major economies for May 2011.

The CLIs point to slowdowns in Canada, France, Germany, Italy, the United Kingdom, Brazil, China and India. In the United States, Japan and Russia tentative signs of turning points in the growth cycle are emerging.

The outlook for Japan should be interpreted with some caution, reflecting the necessarily higher degree of uncertainty in the relationships between the leading components of the Japanese CLI and overall economic activity in the wake of the March 2011 earthquake.

Potential slowdown  in the OECD area

Underlying data - Source: OECD Composite Leading Indicators Database

From February 2011 the OECD publishes Composite Leading Indicators for Chile, Estonia, Israel and Slovenia. The methodology used can be downloaded here.


The methodology used to compile OECD CLIs and reference series trend is described in the following document: "OECD system of Composite Leading Indicators".

For a better interpretation of OECD CLI consult the following document: Interpreting OECD Composite Leading Indicators (CLI).




Next publication date: 8 August 2011 - see here the 2011 release calendar



For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or;  others should contact the Statistics Directorate on



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