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The Conference Board Leading Economic Index (LEI) for India decreased 0.5 percent in November to 103.0 (2010 = 100), following a 1.0 percent increase in October and a 0.7 percent decline in September. The interest rate spread, cargo handled*, industrial production: capital goods, and M3: bank credit to commercial sector contributed positively to the LEI. PMI: services business activity, the SENSEX stock prices index, merchandise exports, and the real effective exchange rate (36 countries) declined in November.
“Despite November’s decline in the LEI, the six-month growth rate continues to pick up, suggesting that India’s rate of economic expansion is likely to last into early 2016,” said Jing Sima, Senior Economist at The Conference Board. “However, sustainable economic growth in the longer-term requires successful implementation of more reforms to help boost business confidence.”
The Conference Board Coincident Economic Index (CEI) for India, which measures current economic activity, increased 0.3 percent in November to 111.0 (2010 = 100), following a 1.4 percent increase in October and a 1.5 percent decline in September. Total imports and industrial production* increased, while car sales: passenger vehicle declined.
The Conference Board LEI for India aggregates eight economic indicators that measure economic activity in India. Each of the LEI components has proven accurate on its own. Aggregating individual indicators into a composite index filters out so-called “noise” to show underlying trends more clearly.
About The Conference Board Leading Economic Index (LEI) for India
The Conference Board Leading Economic Index for India was launched in September 2013. Plotted back to April 1990, this index has successfully signaled turning points in the economic cycles of India. The Conference Board also produces LEIs for Australia, Brazil, China, the Euro Area, France, Germany, Japan, Korea, Mexico, Spain, the United Kingdom, and the United States.
