India, China have reached positive turning points: OECD
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)
- Tweet this
- Share this
- Digg this
- North Korea says Jang Song Thaek, uncle of leader Kim Jong Un, executed
- North Korea executes leader's powerful uncle in rare public purge
- BSE Sensex marks biggest weekly fall in nearly a month
- Micromax aims to go global, high-end with smartphones
- November retail inflation cements calls for rate hike
A pick-up in retail inflation to its fastest pace on record will likely force Reserve Bank of India chief Raghuram Rajan to raise interest rates for a third time on Wednesday, crimping growth prospects for an already fragile economy. Full Article
Asia-Pacific M&A volume falls for third consecutive year, deal size grows. Full Article