New
Delhi: According to a new study by Organisation of Economic Cooperation and
Development (OECD), economic growth in the emerging BRIC economies (Brazil, Russia,
India and China) will continue on a steady path even as the developed nations
will see a slower progress. The
OECD study said, "The latest composite leading indicators (CLIs) suggest
that moderate economic expansion will continue in the developed countries and
Brazil, Russia, China, and India will continue with their steady expansion."
The OECD has
compiled composite leading indicators (CLIs), which summarise information contained
in a number of key short-term indicators linked to GDP for its member-countries
since the 1980s. It
was designed to provide early signals of turning points (peaks and troughs) between
expansions and slow-downs. The CLI for the OECD area, which covers 29 developed
countries of Europe, America and Asia Pacific, rose 0.5 point in May to 110.1
from a revised 109.6 in April. For
China, the CLI rose 3.3 points in May whereas CLI for India increased 1.6 points
in April as data for May was not available in the the report. India''s CLI rose
to 154.8 points in April from 153.2 points in February this year. The
CLI for Russia rose by 1.4 points and for Brazil it increased by 2.4 points. Meanwhile,
for the United States CLI increased by 0.5 point in May and in the euro areas
CLI increased by 0.1 point in May and in the UK the index went up by just 0.5
point in the month. OECD''s
CLI index is a tool to provide qualitative information on short term economic
movements rather than quantitative measures emphasising on movements over time
in up or down directions rather than levels.
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