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OECD Indicators: U.S. and Japan Show Strongest Signs of Increasing Economic Activity
Apr 12, 2010
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The United States and Japan showed the strongest signs of increasing economic activity in OECD composite leading indicators (CLIs) report for February 2010.

OECD composite leading indicators (CLIs) for February 2010 continue to point to economic expansion, but the pace of improvement varies by region. The U.S. and Japan both showed a rise in CLI of 0.9 point.

China may be on a slower pace of economic expansion, where CLIs remained unchanged in the first two months of 2010. The OECD reported weaker but similar signs of slower growth in France and Italy.

The CLI for the entire OECD area increased by 0.7 point in February 2010 and by 0.5 point in the Euro area. The CLIs for India, Brazil and Russia recorded moderate increases, pushing the indicators close to, or above, their long term levels.

The Organisation for Economic Co-operation and Development (OECD) defines growth cycle phases of the CLI as follows:
• expansion (increase above 100)
• downturn (decrease above 100)
• slowdown (decrease below 100)
• recovery (increase below 100).

OECD-Total includes these 29 countries:

• Australia
• Austria
• Belgium
• Canada
• Czech Republic
• Denmark
• Finland
• France
• Germany
• Greece
• Hungary
• Ireland
• Italy
• Japan
• Korea
• Luxembourg
• Mexico
• Netherlands
• New Zealand
• Norway
• Poland
• Portugal
• Slovak Republic
• Spain
• Sweden
• Switzerland
• Turkey
• United Kingdom
• United States

G7 area includes:

• Canada
• France
• Germany
• Italy
• Japan
• United Kingdom
• United States

The Euro area (only Euro area countries that are members of OECD) includes:

• Austria
• Belgium
• Finland
• France
• Germany
• Greece
• Italy
• Ireland
• Luxembourg
• Netherlands
• Portugal
• Slovak Republic
• Spain

The Major Five Asia area includes:

• China
• India
• Indonesia
• Japan
• Korea

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