OECD composite leading indicators (CLIs) for June 2009 point to stronger signs of improvement in the economic outlook of OECD economies compared with last month's release.

This is typified by stronger recovery signals in Italy and France and clearer signals of troughs in Canada, Germany, the United Kingdom and the United States. In Japan tentative signs of improvement have also emerged.

Troughs can also be observed in China and India, with tentative trough signals now appearing in Brazil and Russia.

The CLI for the OECD area increased by 1.2 point in June 2009 but was 5.0 points lower than in June 2008.