The Composite Leading Indicator (CLI) for Poland in July fell 1.41 percent y/y, and 0.55 percent m/m to 99.43 points, as the Organization for Economic Cooperation and Development (OECD) reported.
The 100.00-point level marks the long-term average of the index.
According to the OECD, a rising CLI above 100 points indicates an expansion in the economy, a falling CLI above the 100-point level indicates a downturn, a CLI in a downtrend and below 100 points indicates a slowdown, while a rising CLI that is below the 100 point level indicates a recovery in the economy. CLI is ahead of business cycles, the OECD's intention is for the shift to be 6-9 months.
The OECD selects the key components of the indicator separately for each country. In the case of Poland, the components considered are the real effective exchange rate, the 3M WIBOR rate, as well as the following reported by the Central Statistical Office (GUS): the boom in manufacturing, the number of job openings, and the dynamics of coal production.
(PAP)