The British economy is on course for above trend growth, according to statistics released Monday by the Organization for Economic Cooperation and Development (OECD).
The OECD released Composite Leading Indicators (CLIs) for the Britain which stabilized at 100.7 (above 100.1 shows growth) in May.
This remains inside the 100.7-8 range followed by the British economy throughout this year, and was up 1.25 percent year-on-year.
CLI's are designed to anticipate turning points in economic activity relative to trend, and typically indicate the direction of the economy between six and nine months ahead.
Dr. Howard Archer, chief European and British economist with IHS Global Insight, said, "The OECD reported that the May reading for the leading indicator for the Britain points to growth close to its trend rate."
