The Organisation for Economic Cooperation and Development (OECD), the Paris-based think tank of developed economies, in its latest monthly leading indicator, a measure designed to flag turning points in the international economy has said that it expects India’s growth to be stable, even as it forecast a slowing of the Chinese economy.
In its latest prediction OECD said that stable growth momentum is expected in Germany, Japan and India. The CLI (composite leading indicators) for Russia also points to stable growth momentum albeit below long term trend. However, it said that in Brazil and China, CLIs point more strongly than last month to a loss in growth moment. China's indicator continued its steady decline to 97.41 in June from 97.51 in May, while Brazil slipped to 98.84 from 98.96. On the other hand India’s improved to 99.65 from 99.57, showing a month-on-month growth of 0.09% and year-on-year growth of 0.88%.
Regarding other countries, OECD stated that indicators remained at 100.7 in the euro zone for the fourth consecutive month in June but continued to ease to 99.4 in the U.S. from May's 99.5, having fallen below 100 in February. Britain's reading slipped to 99.8 in June, having dipped below 100 to 99.9 in May. The index rose month-on-month to 100.8 from 100.7 in France and was stable at 100.9 in Italy.
The report pointed that economic growth is showing further signs of firming in France, Italy and the euro zone overall, while growth looks to be easing to around long-term trends in the United States and UK.