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OECD Leading Index for S. Korea Hits Benchmark 100

Write: 2020-06-29 10:00:44Update: 2020-06-29 13:59:29

OECD Leading Index for S. Korea Hits Benchmark 100

Photo : YONHAP News

Despite the COVID-19 pandemic, a leading economic index for South Korea improved in May to hit the benchmark 100 for the first time in about two years.

According to the data from the Organization for Economic Cooperation and Development(OECD) on Monday, the composite leading indicator(CLI) of economic activity for South Korea stood at 100 last month, up point-two percentage points from the previous month.

It's the first time the country's CLI reached 100 or higher since July 2018. 
South Korea is the only country among OECD members to see the index reach the benchmark, although most of the surveyed countries witnessed rises in their indexes in May. 

A reading below 100 means the economy is expected to contract, while a reading above 100 means the economy is expected to expand. 

The CLI gauges how an economy will fare six to nine months ahead, based on orders and inventory changes, financial market indicators and business confidence surveys.

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