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The latest leading indicator data from the Organization for Economic Cooperation and Development (OECD) signals a strengthening rebound throughout the OECD.

For all major OCED economies, the latest composite leading indicator (CLI) readings — which are designed to provide early indications of shifts in economic activity — now “point to a steady expansion,” the group said.

The CLIs for the U.S., Canada, Japan and the euro area have all continued to rise, the OECD said.

The readings for the U.K. and France remain below trend but “now also signal a steady expansion.”

In Russia and in China, the major emerging-market economies, the CLIs also continue to increase at a steady pace, the OECD said — although the CLIs signal slower growth for India and Brazil.

The OECD stressed that the data should be treated cautiously, given heightened uncertainty.

“Despite the gradual lifting of Covid-19 containment measures in some countries and the progress of vaccination campaigns, persisting uncertainties might result in higher than usual fluctuations in the CLI and its components,” the OECD noted.