MNI BRIEF: OECD CLIs Continue Recovery From Pandemic Lows

The OECD Composite Leading Indicators (CLIs) continue to recover from the lows seen during the Covid-19 crisis, although they suggest a mixed picture across major economies with variations in the pace of growth.

Source: OECD.org

While the CLIs from US and Japan continue to signal stable growth, the CLI for Canada is improving further. Similarly, the CLI for the whole euro area including Germany, France and Italy now point to stable growth conditions. On the other hand, the UK's CLI signals a slowdown. Among the major emerging economies, Brazil's and China's CLIs are showing steady increases, while the CLI for India and Russia also suggest stable growth.

However, the OECD warned that "although vaccinations have begun, governments' efforts to contain COVID-19 are ongoing and the rapidly changing nature of such measures mean that indicators used in the CLI compilation may fluctuate. As such, the CLIs should be interpreted with care."