Industrialised countries are headed for moderate economic growth as a whole and the prospects for India and Russia are improving, an OECD study said.
PARIS: Industrialised countries are headed for moderate economic growth as a whole and the prospects for India and Russia are improving but forecasts for China, Brazil and the US are less rosy, an OECD study said on Friday.
"Moderate expansion lies ahead in the OECD area according to the latest composite leading indicators (CLI)," the Organisation for Economic Cooperation and Development said in its latest report.
The CLI are designed to provide "early signals of turning points (peaks and troughs) between expansion and slowdowns of economic activity".
For the 29 industrialised nations that comprise the OECD, the indicator rose by 0.1 point in May to 109.9, though its six-month rate of change fell for the second month in a row.
For India, the CLI rose by one point in April and for Russia it gained 1.2 points in May. Its news for Brazil and China was somewhat less encouraging.
In May, the CLI for the former fell by 1.3 points and its six-month rate dropped for the third straight month.
Meanwhile, the Chinese indicator rose by 0.2 points in May, but the six-month trend fell for the second month in a row. Within the OECD aggregate, the US CLI fell by 0.6 points in May and its six-month outlook was also down for the second consecutive month.
Things looked better for the eurozone, which posted an increase of 0.6 points in May and saw its six-month forecast rise for the 12th straight month.
The study was released two weeks after the IMF head Rodriqo Rato forecast global economic expansion of 5.0 percent this year and next, revising the earlier forecasts.
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