SWIFT, the financial messaging provider, has released the latest SWIFT Index data. The Index, which was announced 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 March 2012 and using its validated methodology, the SWIFT Index points to a recovery of the OECD economies:
- 2.3% growth in Q112 compared to Q111 (a nowcast for the quarter just ended).
- 2.3% growth for Q212 compared to Q211 (a forecast).
Following the slowdown of Q411, the April update reinforces the trend of moderate expansion taking place in the OECD countries (as witnessed in the March release).
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