Indian economy showing signs of fatigue: OECD
11 Jun 2012
India, one of the fastest growing major developing economies of the world, is showing signs of fatigue like its bigger neighbour, China, a report by the Organisation for Economic Cooperation and Development (OECD), released today showed.
The assessments for India and China, based on composite leading indicators (CLIs), currently point towards economic activity below long-term trend, the OECD said in its report.
"The assessment for China and India has changed significantly since last month. For both countries, the CLIs point towards economic activity below long-term trend," OECD said.
The CLI for India dropped to 98.0 from 98.2, falling below the 100 average, the Paris-based think-tank said.
The CLI for China slipped to 99.1 from 99.4 in April, falling further below its long-term average of 100.
On the other hand, the overall CLI for the OECD area, covering 33 countries, inched up to 100.5 from 100.4 over the month. This has been aided by fresh business activity in the United States, Japan and Russia, OECD said.
.webp)
