OECD Leading Index Hits 31-Year High in April
The OECD released data on Friday showing that its Composite Leading Indicator Index for 28 member countries reached a 31-year high in April (see chart above, data here). Having increased now for 14 consecutive months starting in March of last year, the OECD Composite Leading Indicators reached 104.0 in April of this year, the highest reading since March 1979, 31 years ago.
Although there were monthly declines reported for one non-OECD country (China) and small monthly declines in seven OECD members (France, Greece, Hungary, Italy, Korea, New Zealand and Norway), there were increases in the other 21 OECD countries (including the U.S.), the Euro area as a group, the G7 countries, NAFTA members, OECD-Europe, and the non-OECD countries Brazil, India, Russia, Indonesia and South Africa.
Overall, this is a positive report for the OECD Leading Indicators in April, and further strengthens the case that the V-shaped economic recovery currently underway around the world will continue into the future.