4 August 2006, 14:46  OECD June composite leading indicator 109.7

The OECD said its composite leading indicator eased to 109.7 in June from a revised 109.8 in May. The May figure was revised down from a provisional 109.9. The OECD said analysis of the CLI data points to weaker growth in the advanced economies in the coming months. "Slowing expansion lies ahead in the OECD area according to the lastest composite leading indicators," the OECD said. The CLI summarises information contained in a number of key short-term indicators known to be linked to GDP and provides early signals of turning points between expansions and slowdowns in economic activity, the OECD said. Such turning points are highlighted by the so-called six-month rate of change in the CLI, which compares the current month's CLI figure with the average of the previous 12 months. The six-month rate of change showed an annualised increase of 2.9 pct in June after a 3.8 pct rise in May. For the US, the CLI fell to 106.2 from 106.4, while the CLI for the euro zone rose to 109.8 from 109.6. The Japan CLI eased to 100.2 from 101.1, and the UK indicator fell to 101.8 from 102.1. Data for non-member countries point to continued strong expansion in China, India and Russia, but a weaker outlook for Brazil, the OECD said.

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