For the economists.  OECD report on generally positive growth indicators everywhere.  There is a graph for most countries below and if unclear, here is a

of the graphs.

The key is getting above 100 and staying there.  100 = steady state, no growth or drops.  Note the large drop in 2008.

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OECD composite leading indicators show new growth momentum

OECD composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to an increasing pace of economic expansion in November 2010.

The CLIs for China, the United States, France and Japan show clear signs of accelerating economic activity, while the one for Russia points strongly to steady expansion.

The German CLI is unchanged from the previous month at a rate above 100 and should therefore be interpreted as a sign of a continued, stable pace of expansion. Signs of stabilization in the pace of economic expansion are also present in the CLIs for Canada, Italy, the United Kingdom and India.

In Brazil, the CLI continues to point to a slowdown in economic activity.

Regained growth momentum in the OECD area	Regained growth momentum in China
Regained growth momentum in the United States	Stable pace of expansion in the Euro area

The above graphs show for each country the outlook for economic activity based on the CLIs. CLIs attempt to indicate turning points in economic activity approximately six months in advance. Shaded areas represent observed downswings (measured from peak to trough) in the de-trended industrial production (the reference series for economic activity).

Methodological Notes: The CLI methodological notes are available at: http://www.oecd.org/dataoecd/22/47/44728410.pdf Access data: CLI data is available at: http://stats.oecd.org/wbos/default.aspx?datasetcode=MEI_CLI

Contacts: For further information journalists are invited to contact the OECD’s Media Relations Division on (33) 1 45 24 97 00 or e-mail news.contact@oecd.org. For technical questions contact stat.contact@oecd.org Next release: 14 February 2011

Regained growth momentum in Japan	Regained growth momentum in France
Stable pace of expansion in Germany	Stable pace of expansion in Italy
Stable pace of expansion in the United Kingdom	Slowdown in Brazil
Stable pace of expansion in Canada	Stable pace of expansion in India
Expansion in Russia
	Note: The horizontal line 100 shows the long-term trend in industrial production (the reference series). Expansion denotes a CLI increasing above 100; downturn a CLI decreasing but still above 100; slowdown a CLI decreasing below 100; recovery a CLI increasing but below 100.

Table 1: Composite Leading Indicators

	Ratio to trend, amplitude adjusted	Change from previous month	Year on Year change	Growth cycle outlook**
	(long term average =100)	(points)	(points)
	2010					2010					Latest month
	Jul	Aug	Sep	Oct	Nov	Jul	Aug	Sep	Oct	Nov
OECD Area	102.3	102.3	102.4	102.6	102.8	-0.1	0.0	0.1	0.2	0.3	2.9	regained growth momentum
Euro Area	103.3	103.2	103.2	103.2	103.3	0.0	0.0	0.0	0.0	0.1	2.1	stable pace of expansion
Major Five Asia*	101.3	101.2	101.3	101.5	101.7	-0.3	-0.1	0.1	0.2	0.2	0.0	regained growth momentum
Major Seven	102.3	102.3	102.4	102.7	103.0	-0.1	0.0	0.1	0.2	0.3	3.3	regained growth momentum
Canada	102.1	101.8	101.7	101.7	101.8	-0.4	-0.3	-0.2	0.0	0.1	0.8	stable pace of expansion
France	101.9	101.8	101.9	102.1	102.3	-0.3	-0.1	0.1	0.2	0.2	-1.5	regained growth momentum
Japan	102.1	102.4	102.6	103.0	103.4	0.2	0.2	0.3	0.4	0.4	5.2	regained growth momentum
Germany	105.0	105.0	104.9	104.9	104.9	0.1	0.0	-0.1	0.0	0.0	5.6	stable pace of expansion
Italy	103.1	103.1	103.0	103.0	103.0	-0.1	-0.1	-0.1	0.0	0.0	-0.5	stable pace of expansion
United Kingdom	102.5	102.3	102.2	102.2	102.2	-0.3	-0.2	-0.1	0.0	0.0	-0.4	stable pace of expansion
United States	101.6	101.6	101.8	102.2	102.7	-0.1	0.0	0.2	0.4	0.5	4.2	regained growth momentum
Brazil	99.9	99.5	99.2	99.0	98.6	-0.4	-0.4	-0.3	-0.2	-0.4	-0.8	slowdown
China	100.9	100.6	100.7	101.0	101.3	-0.8	-0.3	0.1	0.3	0.3	-2.3	regained growth momentum
India	100.9	101.0	101.1	101.1	101.1	0.1	0.1	0.1	0.0	0.0	0.6	stable pace of expansion
Russia	102.3	103.0	103.7	104.5	105.3	0.7	0.7	0.7	0.7	0.8	7.7	expansion

* China, India, Indonesia, Japan and Korea.

** Growth cycle phases of the CLI are defined as follows: expansion (increase above 100), downturn (decrease above 100), slowdown (decrease below 100), recovery (increase below 100). CLI data for 29 OECD member countries and 6 OECD non-member economies available at: http://stats.oecd.org/wbos/default.aspx?datasetcode=MEI_CLI

Table 2: Historical Performance of CLI and Recent Cyclical Turning Points in the Reference Series

	CLI Historical Performance	Recent Turning Point dates in the reference series
	Lead at all turning points	Dates marked with (P) are provisional turning points
	start year	mean	st. dev.	trough	peak	trough	peak	trough	peak
OECD Area	1961	6	3.5	Jan 2002			Feb 2008	May 2009 P
Euro Area	1963	7	3.1	Jul 2003			Mar 2008	May 2009 P
Major Five Asia*	1983	8	5.8	Dec 2001	May 2004	Jun 2005	Jan 2008	Mar 2009 P	Apr 2010 P
Major Seven	1959	6	3.7	Jan 2002			Mar 2008	May 2009 P
Canada	1956	8	3.7	Nov 2001			Aug 2007	Jun 2009 P
France	1962	7	4.9	Jul 2003			Feb 2008	Apr 2009 P
Japan	1959	6	4.5	Dec 2001			Mar 2008	Apr 2009 P	Jun 2010 P
Germany	1961	5	4.0	Jul 2003			Mar 2008	May 2009 P
Italy	1973	7	5.8			Feb 2005	Mar 2008	May 2009 P
United Kingdom	1958	7	5.2	Apr 2003	Apr 2004	Aug 2005	Feb 2008	Jun 2009 P
United States	1955	5	3.4	Dec 2001			Feb 2008	May 2009 P
Brazil	1989	5	2.3	Jun 2003	Oct 2004	Aug 2006	May 2008	Apr 2009 P	Apr 2010 P
China	1990	6	4.9	Jan 2002			Jan 2008	Feb 2009 P	Jan 2010 P
India	1994	4	2.7	Apr 2003			Mar 2007	Feb 2009 P	Feb 2010 P
Russia	1993	3	2.3	Jul 2002	Jun 2004	Sep 2005	Apr 2008	May 2009 P

* China, India, Indonesia, Japan and Korea