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Our Bureau

Mumbai July 8

The OECD composite leading indicators (CLIs) has signalled a mixed outlook for major global economies in May 2006.

Moderate expansion lies ahead in the OECD area, according to the latest CLI.

Improved performance

May data showimproved performance in the CLI's six-month rate of change in Euro area and Japan, but weakening performance in Canada and the US.

However, the latest data for OECD non-member economies pointed to slightly moderating expansion in China, improved outlook for India and Russia, while CLI for Brazil signalled a weaker outlook, a report said.

Early signals

The OECD CLI, representing qualitative information on short-term economic movement, has been designed to provide early signals of turning points (peaks and troughs) between expansion and slowdown of economic activity.

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