OECD CLIs show most countries to enjoy continuous expansion
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Composite leading indicators (CLIs) for February 2011, designed to anticipate turning points in economic activity relative to trend, continue pointing to expansion in most countries of the Organization for Economic Cooperation and Development (OECD), the Paris-based agency said on Monday in a regular report.
With tepid but successive growth over last five months, February CLIs of the Euro zone and the major seven advanced countries (Canada, the United States, France, Britain, Germany, Italy and Japan) as a whole both stayed above 100 points and indicated to expansion growth cycle in medium term.
Country by country, Germany and the United States expected robust expansions, and France and Canada would possibly regained momentum. A slow but stable pace of expansion was anticipated in Britain, but Italy seems to lose momentum in economic activity in near future.
Japan was excluded in this regular assessment for the recent Great East Japan earthquake and tsunami made it impossible to provide reliable estimates, the OECD report said.
Taking China, India, Indonesia, Japan and Korea as a whole, these countries would remain in the growth cycle of expansion with the fifth monthly increase of 0.2 percent in CLI. Among them, China's indicators points to a possible moderation in economic activity and India's figure continues pointing to a slowdown, according to the report.
For Brazil, the CLI indicated that economic activity should remain near its long-term potential, which is unchanged from previous months indication. The CLI for Russia continued pointing to expansion, the report added.
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