The Organisation for Economic Co-operation and Development (OECD) today issued an early indicator warning of volatile times ahead in the world's economies. The organisation's Composite Leading Indicator (CLI) rose to 121.5 in January from a revised 121.0 in December. While the indicator of global economic activity of its 30 member states rose in January for the third month in a row, it recorded a drop in the US reading - the world's largest economy. For the US, the CLI fell to 131.5 from a revised 132.7. The eurozone edged up to 119.1 from a revised 118.9, while for the UK it fell to 102.4 from a revised 103.4. The indicator, which the OECD said offers early signals of economic prospects, and which is closely watched by economists, was published as the markets await this afternoon's key employment data from the US. The jobless report is expected to reinforce the view that the US economic recovery is not yet underway. //www.fxcentre.com