Snapshot for OECD Euro Area Composite Leading Ind. Total Trend Restored Stck (OLEDEURA)

Rate Profile Information for OLEDEURA

ALLX OLED represents OECD's trend restored data. As of the April 2012 release, the OECD has changed their methodology to use GDP as the reference series. As a result, the data will be lagged 2 additional months for all countries except China. As per the OECD, this data is up to date for the trend series. Composite Leading Indictors is an aggregate time series displaying a reasonably consistent leading relationship with the reference series for the macroeconomic cycle in a country. CLI is constructed by aggregating together component series selected according to the criteria specified in component series. However, It is important to emphasize that component series are not selected according to a strict quantitative criteria based on the cross-correlation with the reference series. Thus, CLI can be used to give an early indication of turning points in the reference series but not for quantitative forecasts. The trend restored form is calculated by multiplying the amplitude-adjusted and ratio-to-trend CLI by the trend of the reference series to obtain the trend restored CLI. This trend-restoration enables direct comparison with the reference series. Please note, as of June 2011, the OECD has replaced this series with O11EA016. The EuroArea consists of the following countries: Austria, Belgium, Finland, France, Germany, France, Ireland, Italy Luxembourg, the Netherlands, Portugal, and Spain.