OECD composite leading indicators point to economic stabilization

The composite leading indicators (CLIs) of the Organization for Economic Cooperation and Development (OECD) showed economic stabilization in the near term.

"Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to stable growth momentum in the OECD area as a whole," the Paris-based organization said in a report on Monday.

CLI for all OECD economies was unchanged at 100 points in June on a monthly basis and pointed to a stable economic performance in the zone in the near term.

In the eurozne, where economies were set to confirm their recovery, the index stood at 100.7 points, the same average reported in May. France, the second largest European power, witnessed a slight rise in its indicators which gained 0.1 points to 100.8 points, according to the report.

However, Germany, Italy and Britain, the main locomotives of European economic growth, reported growth at different speeds with CLI of Berlin unchanged at 100 indicating a sustainable growth trend while that of Italy pointed to a confirmed growth. However, Britain could witness easing economic activities.

The OECD CLI index is aimed at providing early signals of turning points, such as peaks and troughs, between expansion and slowdown of economy approximately six months in advance.