SWIFT Index evolution indicates potential recovery in the OECD economies
Brussels, 22 March 2012 – SWIFT, the financial messaging provider for more than 10,000 financial institutions and corporations in 210 countries, has announced the latest SWIFT Index data. The Index, which was announced in Q3 2011, acts as a fact-based, leading indicator of the evolution of the aggregate Gross Domestic Product (GDP) of OECD countries.
Based on customer messaging data up to February 2012 and using its validated methodology, the SWIFT Index points to a recovery of the OECD economies:
- 2% growth in Q1 2012 compared to Q1 2011 (a “nowcast”)
- 2.3% growth for Q2 2012 compared to Q2 2011 (a “forecast”)
This would indicate that after the slowdown of Q4 2011, there is moderate expansion taking place in the OECD countries.
For further information on the SWIFT Index and its methodology please visit e-paying.info/swiftindex.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 210 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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