Visualising OECD Main Economic Indicators with DBnomics and Plotly Express

OECD Main Economic Indicators

Composite Leading Indicator (CLI)

The composite leading indicator (CLI) is designed to provide early signals of turning points in business cycles showing fluctuation of the economic activity around its long term potential level. CLIs show short-term economic movements in qualitative rather than quantitative terms.

CITATION: OECD (2021), Composite leading indicator (CLI) (indicator). doi: 10.1787/4a174487-en

Business Confidence Index (BCI)

This business confidence indicator provides information on future developments, based upon opinion surveys on developments in production, orders and stocks of finished goods in the industry sector. It can be used to monitor output growth and to anticipate turning points in economic activity. Numbers above 100 suggest an increased confidence in near future business performance, and numbers below 100 indicate pessimism towards future performance.

CITATION: OECD (2021), Business confidence index (BCI) (indicator). doi: 10.1787/3092dc4f-en

Consumer Confidence Index (CCI)

This consumer confidence indicator provides an indication of future developments of households’ consumption and saving, based upon answers regarding their expected financial situation, their sentiment about the general economic situation, unemployment and capability of savings. An indicator above 100 signals a boost in the consumers’ confidence towards the future economic situation, as a consequence of which they are less prone to save, and more inclined to spend money on major purchases in the next 12 months. Values below 100 indicate a pessimistic attitude towards future developments in the economy, possibly resulting in a tendency to save more and consume less.

CITATION: OECD (2021), Consumer confidence index (CCI) (indicator). doi: 10.1787/46434d78-en

Visualising the Data

How to interact with the chart

Conclusion

It is interesting to see how the economic indicators change for neighbouring countries and similar economies, especially during the CoVID19 pandemic in 2020, when different countries implemented differing levels of lockdowns (bearing in mind that indicator data is missing for some countries).

For example, we see that India had the sharpest fall in CLI in early 2020, but bounced back up pretty quickly too.

New Zealand (very strong lockdown) and Sweden (much more lax) had similar drops in business confidence, but Sweden bounced back much more strongly.

Also, the CLI for the 'Euro area (19 countries)' seems to be almost fully dominated by the CLI of the 'Four Big European' region.

Play around with the charts yourself to find more insights!