OECD composite leading indicators (CLIs) for April 2010 point to a slowing pace of expansion in most OECD countries. The CLI for the OECD area increased by 0.4 point in April 2010, slightly lower than the 0.5 point increase in March. April was the ninth consecutive month that the rate of increase has slowed.

Tentative signs of a potential peak have appeared in Brazil with stronger evidence emerging in France, Italy, and especially China. The CLIs for Japan, the United States and Germany continue to indicate that the ongoing expansion in activity is likely to be maintained, but possibly at a slower pace.

Expansion in the OECD area


In February 2010, the OECD reviewed the CLI for 8 countries (Brazil, China, Indonesia, Ireland, Korea, the Slovak Republic, Switzerland, the Russian Federation). In doing so, some component series have been dropped or replaced. As a consequence, chronology of turning points of the CLIs as well as component series have been revised.