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COMPOSITE LEADING INDICATOR ZONES

Statistics Directorate    
Definition:
In addition to those for individual countries, OECD calculates composite leading indicators CLIs for the following groups of countries or zones:

For the CLIs the OECD-Total comprises of the 34 OECD countries, except Iceland. These 33 countries are Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, and United States.

The OECD + Non-member economies covers all OECD countries plus the 6 non-member economies: Brazil, China, India, Indonesia, Russian Federation, South Africa.

The Major Seven countries are: Canada, France, Germany, Italy, Japan, United Kingdom and United States.

The OECD Europe countries are: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey and United Kingdom.

The Euro area - EMU (European Monetary Union) covers Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovak Republic, Slovenia and Spain.

The Four Big European Countries are: France, Germany, Italy, and United Kingdom.

The NAFTA area covers the following 3 countries: Canada, Mexico, and United States.

The Major 5 Asia countries are: China, India, Indonesia, Japan and Korea.

Context:
The reference series for a zone is the weighted average of the individual countries reference series, where the weights are derived from GDP in industry and the GDP purchasing power parity. Weights are updated every five years and the amplitude-adjusted CLI for the zone is calculated by weighting together the amplitude-adjusted CLIs for individual countries, using the same weights as for the reference series. The same method is used to obtain the industrial production trend for the zone. Then, the trend restoration is done as for individual countries, by multiplying the amplitude-adjusted composite indicator by the trend of the reference series.

Source Publication:
OECD, n.d..OECD OECD Composite Leading Indicators: Reference Turning Points and Component Series.

Cross References:
Composite leading indicators (CLI)
EU27
Euro area - EMU
Main Economic Indicator main country groupings
Non-member economies, OECD
OECD-Total

Hyperlink:
http://www.oecd.org/std/clits/oecdcompositeleadingindicatorsreferenceturningpointsandcomponentseries.htm

Statistical Theme: Short-term economic statistics

Created on Tuesday, September 25, 2001

Last updated on Wednesday, April 17, 2013