India, China have reached positive turning points: OECD

PARIS Mon Jan 14, 2013 5:32pm IST

An Indian labourer walks back to his house after working at a construction site in Chandigarh November 29, 2005. REUTERS/Ajay Verma/Files

An Indian labourer walks back to his house after working at a construction site in Chandigarh November 29, 2005.

Credit: Reuters/Ajay Verma/Files

Related Topics

PARIS (Reuters) - The growth outlook for most industrialised countries is improving, led by the United States and Britain, while the Chinese and Indian economies have reached positive turning points, the OECD said on Monday.

Growth prospects for core euro zone countries France, Germany and Italy as well as the bloc as a whole are beginning to stabilise, the Organisation for Economic Cooperation and Development added in a statement on its monthly leading indicators.

The Paris-based think tank's composite leading indicator for the 33 OECD member countries, a measure designed to flag turning points in economic activity, was stable in November from October at 100.2, slightly above the long-term average of 100.

The United States saw its reading rise to 101.0 from 100.8, while in Britain the indicator rose to 100.7 from 100.5, which the OECD said was indicative of "growth firming".

Its indicator for China continued to rise towards its long-term average of 100 with a reading of 99.7, edging up from 99.5 in October. India's indicator ticked up to 97.9 from 97.8.

The euro area's indicator inched up to 99.5 from 99.4, while Japan's reading held steady for the fourth month in a row at 100.2.

The OECD says that turning points in these indicators tend to precede changes in economic activity by about six months.

(Reporting by Leigh Thomas; Editing by John Stonestreet and Hugh Lawson)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage