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SWIFT Index Shows Deceleration in Growth in OECD Economies, Though at a Slower Pace

SWIFTs June index latest index stands at 157.2, indicating that the deceleration in growth witnessed in May continues though at a slower pace. The Index, which was announced in the third quarter of 2011, acts as an indicator of the

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SWIFTs June index latest index stands at 157.2, indicating that the deceleration in growth witnessed in May continues though at a slower pace.

The Index, which was announced in the third quarter of 2011, acts as an indicator of the evolution of the aggregate GDP of OECD countries.

Based on customer payments messaging data up to June 2012 and using its validated methodology, the SWIFT Index points to the following growth rates in OECD economies:

– 1.4% growth in the second quarter of 2012 compared to the second quarter of 2011 (a nowcast for the just ended quarter)

– 1.1% growth for the third quarter of 2012 compared to the third quarter of 2011 (a forecast).

(JDC)

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