MADRID, April 13 (Xinhua) -- The Organization for Economic Cooperation and Development (OECD) on Tuesday said it saw signs of "stable growth" in Spain and ascribed this to the revival in the country's economic activity since February.
The organization uses the composite leading indicator (CLI) to "anticipate turning points in economic activity relative to trend."
"The CLI for Spain continues to point to stable growth, with the greatest positive contribution this month from consumer confidence, stock market indicators and, to a lesser extent, also from the indicator corresponding to the construction sector," the OECD said in a report.
The CLI reading for March increased to 100 points from 99.77 the previous month for the OECD as a whole, implying a monthly increase of 0.22 points and an annual increase of 2.84 points, which is considered to be "stable growth." The figures for Spain had been falling until November last year but since February they have been rising markedly. In March, the indicator stood at 96.30 points.
The indicators have also been increasing for the economic activities of Germany, Italy, France and the United Kingdom.
The OECD added that the data need to be interpreted with prudence, because the economic fluctuations are influenced by the countries' coronavirus control measures and by the progress of their vaccination campaigns.
