Growth in India, China slowing further: OECD

Emerging economies like China and India are going through deeper economic slowdowns while economic activity in Brazil continues to point to a return towards long-term trend but with a weaker intensity than observed last month, the Organisation for Economic Cooperation and Development (OECD) said today.

The Paris-based economic think-tank said the composite leading indicator for India, which provides a measure of future economic activity, fell to 97.8 from 98.0, also below the long-term average of 100.

For China, it said the monthly assessment of CLI eased to 99.2 in May from 99.4 in April, slipping further away from the long-term average of 100.

OECD said economic growth continues to moderate in most major industrial economies.

''Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, point to an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies,'' the latest assessment showed.

''The economic indicators for Japan, the United States and Russia remain above long-term trend but continue to point to dissipating momentum, especially in the case of Russia,'' OECD said.