India Economy Improving According to OECD Survey

13 February 2012 - Which Way to Pay

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India Economy Improving According to OECD Survey

According to the Organisation for Economic Cooperation and Development (OECD) India, and most of the developed world showed signs of better growth in December. These findings will be welcomed at a time of increasing concerns about a prolonged slowdown worldwide, especially for emerging nations like India. The OECD’s leading indicators are designed to show early signals of tuning points between the expansion and slowdown of economic activity, and are based on a wide variety of data series that have a history of signally changes in economic activity.

Composite Leading Indicators (CLIs), that show turning points in economic activities showed a positive change for OECD nations as a whole in December, mainly in the US and Japan. However, the CLI for India rose to 95.6 in December last year from November of the same year, but it was still well below its long-term average. The report did say however that the CLIs for India, “show signs of an upward change in growth momentum.”

The readings for China, Brazil and the euro area continues to drop with China down 0.5 points to 99.3, Brazil down 0.1 points at 94.7 and the euro zone down 0.1 as well at 98.3.

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