ID :
40528
Wed, 01/14/2009 - 10:55
Auther :
Shortlink :
http://m.oananews.org//node/40528
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OECD predicts deep slowdown in India, China, Russia
New Delhi, Jan 13 (PTI) A host of developed and emerging economies, including India, China, US, UK and the Euro zone, and Japan are expected to face severe slowdown ahead, says OECD.
The composite leading indicators (CLIs) for November 2008
point to deep slowdowns in seven major economies and non-OECD
member economies particularly India, China and Russia, OECD
said in a report.
The Organisation for Economic Co-operation and
Development (OECD) indicators have been designed to provide
early signals of turning points in business cycles and
fluctuations of economic activity around its long term
potential level.
The CLI for India has dropped by 1.2 point in November
2008, which was 7.6 points lower as compared with the same
month in the previous year.
The CLI for China and Russia has decreased by 3.1 points
and 4.3 points respectively, in November, 2008, the report
revealed.
Besides, the indicator predicts a downturn in Brazil with
the CLI in November falling by 1.1 point and lower 2.9 points
lower as compared with that a year ago.
The OECD CLIs are composite indicators with components
that target the early stages of production and respond rapidly
to changes in economic activity
CLIs are sensitive to expectations of future activity and
are control variables that measure policy stances.
The OECD composite leading indicators for the United
States fell 1.7 point in November last year, about 7.3 points
lower than in the year-ago period.
Further, leading indicators for United Kingdom, Japan,
Canada, France, Germany and Italy fell between 0.6 point to as
much as two points in the reviewed month.
The approach of focusing on turning points in the
economic activity through peaks and troughs results in CLIs
that provide qualitative rather than quantitative information
on short-term economic movements.
The four cyclical phases which form the basis of this
qualitative approach are --expansion with the indicator
increasing and above 100, downturn( CLI decreasing and above
100), slowdown (CLI decreasing and below 100), recovery(CLI
increasing and below 100).
The OECD area covers 29 countries which include
Australia, Belgium, Canada, Czech Republic, Denmark, Finland,
France, Germany, Greece, Hungary, Ireland, Italy, Japan,
Korea, United Kingdom and United States. PTI MBH
SAK
NNNN
The composite leading indicators (CLIs) for November 2008
point to deep slowdowns in seven major economies and non-OECD
member economies particularly India, China and Russia, OECD
said in a report.
The Organisation for Economic Co-operation and
Development (OECD) indicators have been designed to provide
early signals of turning points in business cycles and
fluctuations of economic activity around its long term
potential level.
The CLI for India has dropped by 1.2 point in November
2008, which was 7.6 points lower as compared with the same
month in the previous year.
The CLI for China and Russia has decreased by 3.1 points
and 4.3 points respectively, in November, 2008, the report
revealed.
Besides, the indicator predicts a downturn in Brazil with
the CLI in November falling by 1.1 point and lower 2.9 points
lower as compared with that a year ago.
The OECD CLIs are composite indicators with components
that target the early stages of production and respond rapidly
to changes in economic activity
CLIs are sensitive to expectations of future activity and
are control variables that measure policy stances.
The OECD composite leading indicators for the United
States fell 1.7 point in November last year, about 7.3 points
lower than in the year-ago period.
Further, leading indicators for United Kingdom, Japan,
Canada, France, Germany and Italy fell between 0.6 point to as
much as two points in the reviewed month.
The approach of focusing on turning points in the
economic activity through peaks and troughs results in CLIs
that provide qualitative rather than quantitative information
on short-term economic movements.
The four cyclical phases which form the basis of this
qualitative approach are --expansion with the indicator
increasing and above 100, downturn( CLI decreasing and above
100), slowdown (CLI decreasing and below 100), recovery(CLI
increasing and below 100).
The OECD area covers 29 countries which include
Australia, Belgium, Canada, Czech Republic, Denmark, Finland,
France, Germany, Greece, Hungary, Ireland, Italy, Japan,
Korea, United Kingdom and United States. PTI MBH
SAK
NNNN
