Business Daily from THE HINDU group of publications
Sunday, Dec 10, 2006
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Business Daily from THE HINDU group of publications Sunday, Dec 10, 2006 ePaper |
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Industry & Economy
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Economy OECD pointers suggest slowdown in global growth Our Bureau
Growth outlook The latest data for major OECD non-member economies point to a weakening outlook for Russia, moderating growth in China and India, and steady expansion in Brazil.
Mumbai , Dec. 9 The latest OECD composite leading indicators (CLI) suggest that continued economic expansion lies ahead in the OECD area. October 2006 data show weakening performance in the CLI's six-month rate of change in the Euro area and the US, but improved performance in Japan. Interest rate spreads are contributing negatively to the performance of CLIs in all the major seven economies, while business confidence is contributing positively in the Euro area and negatively in Canada and the US, the OECD said in a release on Friday. The latest data for major OECD non-member economies point to a weakening outlook for Russia, moderating growth in China and India, and steady expansion in Brazil. The CLI for India increased by 2.2 points in September, and its 6-month rate of change was up for the third month in a row.
Early signals
The OECD CLI is designed to provide early signals of turning points (peaks and troughs) between expansion and slowdowns in economic activity. The qualitative nature of information on short-term economic movements suggests direction up or down rather than levels. The OECD CLI data have implications for the global commodity trade. There is positive correlation between global economic growth and commodity consumption, especially industrial metals.
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