Released late last week, the OECD Composite Leading Indicators (CLIs) for June 2009 point to stronger signs of improvement in the economic outlook of OECD economies compared with last month’s release.
The CLI for the OECD area increased by 1.2 points and is up for the fourth-consecutive month. The CLI in the US gained 1.3 points, accelerating from May’s 1.1 point increase, and 0.5 point rise in April.
According to the OECD, the CLIs are signaling troughs in economic activity in the US, Europe, the UK, and Canada, though signs of improvement or more tentative in Japan and Russia. See charts.
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