The CLI for the United States increased by 0.5 point in May and its six-month rate of change was up for the fifth month in a row. The Euro area’s CLI increased by 0.1 point in May but its six-month rate of change has a downward trend since June 2006. In May 2007, the CLI for Japan rose by 0.7 point and its six-month rate of change has increased in the last two months.
The CLI for the United Kingdom increased by 0.5 point in May and its six-month rate of change increased strongly for the third month in a row. The CLI for Canada increased by 0.3 point in May and its six-month rate of change has shown an upward trend since November 2006. For France, the CLI rose by 0.5 point in May, and its six-month rate of change increased for the fourth month in a row. The CLI for Germany rose by 0.4 point in May. However its six-month rate of change has shown some weakening since May 2006. For Italy the CLI fell by 0.6 point in May while its six-month rate of change has had a downward trend since July 2006.
The CLI for China rose a strong 3.3 points in May 2007 and its six-month rate of change has stabilised at a high level after six months of continued strength. The CLI for India increased 1.6 points in April and its six-month rate of change increased for the first time following a slight downward trend since November 2006. The CLI for Russia rose by 1.4 points in May 2007. Its six-month rate of change has also increased for three consecutive months. In May 2007 the CLI for Brazil increased by 2.4 points while its six-month rate of change has risen strongly over the last five months.
