A weekend report from the Organization for Economic Cooperation and Development

  • composite leading indicator (CLI) for Korea fell 0.3 points from 99.2 in June
  • CLI used as a warning sign
  • OECD says it indicates the Korean economy will worsen in six to nine months time
  • Citing declining domestic consumption and shrinking investment

CLI for Korea has been on a downward for 15 months in a row since April 2017

size of monthly declines has been growing

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Not a positive, but after 15 months gotta begin to wonder if its near an end for the decline. The previous longest run of falls was 20 months.

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OECD's CLI is based on

  • manufacturing outlook
  • Kospi
  • stocks of manufactured investment goods
  • the inventory circulation indicator in manufacturing
  • spread of interest rates
  • terms of trade