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The latest leading economic indicators from the Organisation for Economic Co-operation and Development appear to point to a strong global economic rebound in the second half of 2009, joining a growing chorus predicting the end of the recession by the end of the year.

The LEI of OECD countries surged 1.1% in June, the largest one-month increase since 1975.

"The performance for the LEI of the BRIC economies, which are not part of the OECD, was even more spectacular in June with the index surging 2% on the month," Stefane Marion, analyst with National Bank, said in a note to clients.

BRIC includes Brazil, Russia, India and China.

As well, the six-month change in National Bank's global LEI composite (70% OECD and 30% BRIC) is showing a positive trend for the first time in more than a year.

Source: 2009: OECD Indicators Point to Second Half Economic Rebound