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 the Eurozone.