The country's score on the composite leading index released last month by the Organisation for Economic Co-operation and Development grew for the seventh consecutive month to hit its highest level in three years and seven months. (Korea.net DB)
The country's composite leading index (CLI), an indicator of business confidence over the next six to nine months of the Organisation for Economic Co-operation and Development (OECD, hit its highest level last month in three years and seven months in rising for the seventh straight month.
The OECD on July 13 said Korea's CLI for June was 101.08, the highest since 101.09 in November 2021.
The indicator gauges rapid turning points in the economy and is used to predict economic trends over the next six to nine months. If the figure is higher than the benchmark score of 100, the economy is forecast to grow and if lower than that, sluggishness is expected.
Korea's CLI had been below 100 for 20 months since hitting 99.82 in July 2022. Last year, the index surpassed 100 in February (100.02), suffered a four-month drop from August to November and began a rebound in December.
Last month, the country's index was the second highest among those of 12 member countries released by the OECD, just trailing the U.K. (101.16) and exceeding the averages of the groups of leading industrialized economies G20 (100.50) and G7 (100.51).
kgh89@korea.kr
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