Cooperation and Development's (OECD's) composite leading indicators (CLIs) for December 2009 gave out Friday stronger recovery signals than last month.
CLIs for 29 developed countries rose to 103.1 in December, 1.1 point higher than the previous month and 10.1 points higher than a year ago, OECD said in a newly released report.
CLIs for the G7 economies, namely Canada, France, Japan, Germany, Italy, United States and United Kingdom, as well as China, India, Russia and Brazil, "are now all close to, or above, their long term trends," the report announced, saying that "industrial production in all these countries has now reached its trough."
The CLI for the OECD area increased by 0.9 point in December 2009, to 103.1 points, and was 10.1 points higher than in December 2008.
The same 0.9-point CLI increase in December was recorded for the United States, Euro area, United Kingdom and France, while Japan gained the biggest increase of 1.2 point and Italy registered the lowest increase of 0.8 point among OECD members.
Compared from December 2008, Germany's CLI witnessed the biggest growth of 14.9 points while the CLI for Japan only went up 8.1 points, the worst of its OECD peers. The Euro area's CLI was 12.2 points higher than a year ago, standing at 104.9 points.
For non-OECD members, the CLI for China decreased by 0.1 point in December but was 9.4 points higher than a year ago. Russia's CLI increased by 0.3 point in December 2009 and 14.2 points higher from previous December.
For Brazil and India, their CLI remained stable while compared from last year, it posted 13.8 points higher for Brazil and 4.9 points higher for India.
Judging from new data, OECD tagged Brazil's and India's future growth the "recovery" brand and defined the economic outlook for the Major Seven developed countries and China and Russia with " expansion" phase./.