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.