OECD leading indicator for Portugal improves for 8th consecutive month

16 May 2006

Lisbon, Portugal, 16 May – The Composite Leading Indicator (CLI) of the Organization for Economic Cooperation and Development (OECD) for Portugal improved in march for the eighth month in a row, to 98.2 points, its highest level since May 2001, the OECD said.

The 0.2 point rise for March, against the previous month, was the highest since September 2000.

The CLI brings together information from several basic short-term indicators linked to gross domestic product (GDP) performance and is intended to give early warning of turning points between slowdowns and expansion of the economy.

The six month variation rate for Portugal, which is intended to identify economic turning points nine months ahead of time, also improved for the eighth consecutive month, standing at 3.72 percent in March.

The CLI’s behavior for Portugal is in line with that of development for the entire OECD area, which showed improvements for the 11th month in a row, reaching an overall figure of 109.6 points, 0.4 percentage points more than in February, signaling moderate economic expansion, according to the OECD.

The OECD said that the strongest improvements in the indicator were posted by Germany and the United Kingdom. (macauhub)