OECD Leading indicators for Feb 2010 – expansion still afoot
Posted on 13 April 2010
It’s a little slow in the release but the OECD CLI remains a handy reference as a global growth barometer. The April communique covering the month of February was released last night (you can find it here).
The recent trends are unchanged – global expansion is still relatively strong but momentum is slowing. The major contributors to the strength were the US and Japan while the laggards are China, Italy and France. China has been flatlining for a couple of months now and is beginning to drag on the major five economies of Asia:
Notwithstanding that Australia’s stellar rate of expansion peaked in September 2009, growth for the dirt exporter remains robust.
We follow the CLI cause it can throw up alerts for impending trend changes - in this respect, for the Aussie benchmark at least, nothing but green lights. If momentum continues to wane, then we might see some negative leads from the indicators in the second half of 2010.
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