Canada’s economic prospects for the future are showing signs of improvement, the Organization for Economic Co-operation and Development said Friday.

The OECD said its composite leading indicator for Canada jumped 2.6 points in May, rising to a reading of 132.4 from April’s figure of 129.8. The leading indicator for Canada had not risen since January.

The six-month rate of change for Canada also turned up following a downward trend seen since May 2002, the OECD said.

The OECD said slow to moderate growth ahead in the OECD area, the United States and the Euro area is indicated by the composite leading indicators.

The leading indicator for the OECD area rose by 1.0 point in May 2003 to 121.1 from 120.1 in April. Its six-month rate of change also rose significantly after showing a downward trend since May 2002.

The leading indicator for the United States increased by a strong 1.6 points in May, the OECD said.

The six-month rate of change for the U.S. turned up after three months of downturns or flat results.