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

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

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