SWIFT has released its latest index data, pointing towards a recovery of the OECD economies.
The index was launched in the third quarter of 2011 as an indicator of the evolution of the aggregate GDP of OECD countries.
Based on customer messaging data up to March 2012 the index points to a 2.3% growth in the first quarter of 2012 compared to the first quarter of 2011 (a nowcast for the quarter just ended) and 2.3% growth for the second quarter of 2012 compared to the second quarter of 2011 (a forecast).
Following the slowdown of the fourth quarter of 2011, the April update reinforces the trend of moderate expansion taking place in the OECD countries, said SWIFT.
(JDC)