OECD composite leading indicators show stable economic signs

Xinhua, Paris :
The composite leading indicators (CLIs) of the Organization for Economic Cooperation and Development (OECD) showed economic stabilization in member countries, the Paris-based organization said Tuesday.
“Composite leading indicators, designed to anticipate turning points in economic activity relative to trend, continue to point to stable growth momentum in the OECD area as a whole,” the think-tank said.
CLI for all OECD economies was at 100.6 points, unchanged since the start of the year, while indicators of the major seven economies pointed to stable growth momentum.
The eurozone’s composite leading indicators continue to indicate a positive change in momentum after reporting steady signs in May at 101.1.
France, the second largest European economy, witnessed also a unchanged index at 100.3. However, Germany, Italy and Britain, the main locomotives of European economic growth, reported different pace, indicating a sustainable growth trend except Germany, which could face slowing trend.
The OECD noted stable performance of U.S. economy while predicting a growth around trend in Russia and China, according to the report.
The OECD CLI index is aimed at providing early signals of turning points, such as peaks and troughs, between expansion and slowdown of economy approximately six months in advance.