South Korea’s composite leading indicator (CLI) compiled by the OECD rose for a 19th consecutive month in August to 102.87, ranking first among 17 surveyed countries and reaching its highest level since May 2021. The forward-looking gauge is designed to identify economic turning points and assess GDP trends roughly six to nine months ahead. Its increase has narrowed for five consecutive months, while oil prices above $100 a barrel, higher U.S. Treasury and South Korean bond yields, and two consecutive Bank of Korea rate hikes have raised concerns about weakening momentum. The government says the index’s elevated level, rather than the smaller monthly gains, indicates that a solid recovery remains in place.