Paris-based think tank, the Organisation for Economic Cooperation and Development (OECD) has stated that India is poised for stable growth even as economic activities are easing in neighbouring and some other developed nation. OECD has further stated that the outlook is also for stable growth momentum in India.
The think tank’s readings based on the Composite Leading Indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, said that in March, India's CLI inched up to 99.3 from 99.2 registered in February, while CLI stood at 99.1 in January.
Talking about the CLIs of other nations, OECD said that beside India, CLIs are pointing towards stable growth momentum in Japan, Germany and the UK, while they continue to point to easing growth in Canada and China and to a loss in growth momentum in Brazil and Russia.
It further stated that Eurozone’s growth momentum continues to strengthen, particularly France and Italy are outperforming as the euro zone economy recovers. On the other hand signs of easing growth momentum in US may reflect transitory factors. Using the long-term average of 100 as a benchmark, the OECD said its latest monthly CLI indices showed the US economy dipping from 99.8 to 99.6 and China from 98.1 to 97.9.