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COMPOSITE LEADING INDICATORS (CLI)

Statistics Directorate    
French Equivalent: Indicateurs composites avancés (ICA)

Definition:
A composite leading indicator (CLI) is an aggregate time series displaying a reasonably consistent leading relationship with the reference series for the macroeconomic cycle in a country.

Thus, CLI can be used to give an early indication of turning points in the reference series but not for quantitative forecasts.

Context:
CLI is constructed by aggregating together component series selected according to the criteria specified in component series. However, It is important to emphasise that component series are not selected according to a strict quantitative criteria based on the cross-correlation with the reference series.

Source Publication:
OECD, n.d. OECD Glossary for OECD Composite Leading Indicators, website.

Cross References:
Component series, Composite leading indicator (CLI)
Composite indicator
Composite leading indicator zones
Composite leading indicators (CLI) weighting

Hyperlink:
http://www.oecd.org/std/clits/glossaryforoecdcompositeleadingindicators.htm#COMPONENT

Statistical Theme: Short-term economic statistics

Created on Tuesday, September 25, 2001

Last updated on Friday, April 12, 2013