SWIFT, the financial messaging provider, has released the latest SWIFT Index data. The index, which was launched in Q311, acts as a fact-based, leading indicator of the evolution of the aggregate gross domestic product (GDP) of Organisation for Economic Co-operation and Development (OECD) countries.
Based on customer messaging data up to February 2012, and using its validated methodology, the SWIFT Index points to a recovery of the OECD economies:
- Two percent growth in Q112 compared to Q111 (a nowcast).
- Growth of 2.3% for Q212 compared to Q211 (a forecast).
This would indicate that after the slowdown of Q411, there is moderate expansion taking place in the OECD countries.
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