New Delhi: According to a new study by Organisation of Economic Cooperation and Development (OECD), economic growth in the emerging BRIC economies (Brazil, Russia, India and China) will continue on a steady path even as the developed nations will see a slower progress.

The OECD study said, "The latest composite leading indicators (CLIs) suggest that moderate economic expansion will continue in the developed countries and Brazil, Russia, China, and India will continue with their steady expansion."

The OECD has compiled composite leading indicators (CLIs), which summarise information contained in a number of key short-term indicators linked to GDP for its member-countries since the 1980s.

It was designed to provide early signals of turning points (peaks and troughs) between expansions and slow-downs. The CLI for the OECD area, which covers 29 developed countries of Europe, America and Asia Pacific, rose 0.5 point in May to 110.1 from a revised 109.6 in April.

For China, the CLI rose 3.3 points in May whereas CLI for India increased 1.6 points in April as data for May was not available in the the report. India''s CLI rose to 154.8 points in April from 153.2 points in February this year.

The CLI for Russia rose by 1.4 points and for Brazil it increased by 2.4 points.

Meanwhile, for the United States CLI increased by 0.5 point in May and in the euro areas CLI increased by 0.1 point in May and in the UK the index went up by just 0.5 point in the month.

OECD''s CLI index is a tool to provide qualitative information on short term economic movements rather than quantitative measures emphasising on movements over time in up or down directions rather than levels.