Business Daily from THE HINDU group of publications
Saturday, Sep 06, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Sep 06, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Economy India in downturn mode: OECD The CLI for India fell by 1.5 points in June 2008 and was 5.5 points lower than in June 2007. G. Chandrasekhar Mumbai, Sept. 5 Continued weakening outlook for all the major seven economies is what the latest OECD Composite Leading Indicators (CLI) signal. The July 2008 data confirm continued slowdown in the US and in the euro area. On the other hand, the latest data for major non-OECD member economies tentatively point to expansion in China, Brazil and Russia, and a downturn in India. The CLI for India fell by 1.5 points in June 2008 (latest available) and was 5.5 points lower than in June 2007. The OECD CLI is designed to provide early signals of turning points (peaks and troughs) between upswings and downswings in the growth cycle of economic activity. The CLI provides qualitative information on short-term economic movements rather than quantitative measures. A downturn or slowdown usually suggests a deceleration of economic activities in terms of production and consumption, mainly of commodities. There usually is a strong positive relationship between economic growth and metals consumption. More Stories on : Economy
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