China Composite Leading Indicator

OECD composite leading indicator, designed to anticipate turning points in economic activity (long-term average = 100).

Composite Leading Indicator in China decreased to 97.41 points in Sep 2026 from 97.64 points in Aug 2026.

97.41
▼ −0.23Sep 2026 · previous 97.64Monthly · index points · Source: OECD — Organisation for Economic Co-operation and Development

China Composite Leading Indicator — History

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China Composite Leading Indicator — analysis in simple words

Latest reading

Composite Leading Indicator in China decreased to 97.41 points in Sep 2026 from 97.64 points in Aug 2026.

It has fallen in each of the last three months.

Recent trend

A year earlier (Sep 2025) it was 100.30, so the latest figure is 2.89 lower.

Over the past five years the average was 100.03, with a range from 97.41 to 102.34. The latest value is below that five-year average.

Historical context

This data series starts in May 1992 and has 413 monthly observations. The latest reading is higher than 6% of all of them.

The highest value on record is 106.41 (Sep 2007) and the lowest is 85.64 (Mar 2020). The long-run average is 100.01.

Compared with other countries

Among 17 economies with recent data, China ranks 17th from the top. The median across all these economies is 100.73, so China is below the typical country.

Among 16 major economies tracked on this site it ranks 16th.

Within East Asia & Pacific (5 economies with data) it ranks 5th; the regional median is 99.95.

Statistics

Latest
97.41Sep 2026
Previous
97.64
5-year average
100.03
Long-run average
100.01since May 1992
All-time high
106.41Sep 2007
All-time low
85.64Mar 2020
Observations
413Monthly

Recent Data

PeriodValueChange
Sep 202697.41▼ −0.23
Aug 202697.64▼ −0.25
Jul 202697.88▼ −0.27
Jun 202698.15▼ −0.27
May 202698.42▼ −0.26
Apr 202698.68▼ −0.25
Mar 202698.93▼ −0.22
Feb 202699.15▼ −0.22
Jan 202699.37▼ −0.22
Dec 202599.59▼ −0.23
Nov 202599.82▼ −0.24
Oct 2025100.06▼ −0.24
Sep 2025100.30▼ −0.23
Aug 2025100.53▼ −0.20
Jul 2025100.73▼ −0.18
Jun 2025100.92▼ −0.16
May 2025101.08▼ −0.14
Apr 2025101.22▼ −0.10
Mar 2025101.33▼ −0.05
Feb 2025101.37▲ +0.02
Jan 2025101.35▲ +0.09
Dec 2024101.26▲ +0.15
Nov 2024101.11▲ +0.19
Oct 2024100.92▲ +0.18
Sep 2024100.74▲ +0.12
Aug 2024100.62▲ +0.03
Jul 2024100.59▼ −0.06
Jun 2024100.65▼ −0.13
May 2024100.78▼ −0.18
Apr 2024100.95

Composite Leading Indicator — China vs Peers

Latest available reading for each economy (periods may differ). China highlighted.

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More China indicators

GDP Annual Growth Rate4.3%Q2 2026Interest Rate3.00%Sep 2026Inflation Rate0.9%Sep 2026Unemployment Rate4.6%2025Government Debt to GDP98.6%2025Balance of Trade$816.2B2025Current Account to GDP3.8%2025GDP$19,498.0B2025GDP Growth Rate0.90%Q2 2026Business Confidence98.36Aug 2026
China economy overview →   Composite Leading Indicator — all countries →

Understanding Composite Leading Indicator — a simple guide

What it measures

The OECD Composite Leading Indicator (CLI) combines several forward-looking data series — such as business surveys, orders, share prices and interest-rate spreads — into one index designed to anticipate turning points in the economy.

How it is calculated

The OECD combines several leading series, smooths them, and scales the result so that 100 equals the long-term trend.

Simple example

A CLI moving from 99.5 to 100.3 over a few months suggests activity is turning up above trend.

▲ When it is high or rising

Above 100 and rising: growth above trend is expected.

▼ When it is low or falling

Below 100 and falling: a slowdown below trend is expected.

Why it matters for the economy and markets

Because it is built to turn before the economy does, the CLI is used to spot early signs of an upswing or a slowdown six to nine months ahead.

How to read it

A value above 100 means activity is expected to be above its long-term trend; below 100, below trend. The direction (rising or falling) matters as much as the level.

What to look at alongside it

Business confidence, industrial production and GDP growth.

Key terms

Leading indicator
A measure that tends to change before the overall economy does.
Amplitude adjusted
Scaled so swings are comparable across countries.

Data source

OECD — Organisation for Economic Co-operation and Development (series OECD CLI (amplitude adjusted)), monthly data from May 1992 to Sep 2026. Values are shown exactly as published by the source and may be revised later.

How to use the chart

Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.

Frequently asked questions

What is the current composite leading indicator of China?
China composite leading indicator was 97.41 in Sep 2026, compared with 97.64 in the previous period, according to OECD — Organisation for Economic Co-operation and Development.
What is the highest and lowest composite leading indicator of China?
Since May 1992, the highest reading was 106.41 (Sep 2007) and the lowest was 85.64 (Mar 2020).
What does composite leading indicator measure?
The OECD Composite Leading Indicator (CLI) combines several forward-looking data series — such as business surveys, orders, share prices and interest-rate spreads — into one index designed to anticipate turning points in the economy.

Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.