The leading index for India, which measures the future economic activity, declined in March after staying flat in the prior month, figures from the Conference Board showed Thursday.
The Conference Board leading economic index fell 0.4 percent in March. In February, the index showed no variations, which was revised from a 0.1 percent increase.
Out of the eight components, only three contributed positively to the index in March.
“March’s decline in the Leading Economic Index for India more than offset the increases earlier this year, suggesting that the pace of India’s economic expansion is unlikely to accelerate in the coming months,” Jing Sima, a senior economist at the Conference Board, said.
“However, while the short-term outlook does not suggest a rapid improvement, a more accommodative business environment coupled with ongoing structural reform initiatives could bring stronger economic growth in the medium-term.”
Meanwhile, the coincident index that indicates the current economic activity climbed notably by 0.8 percent in March, after remaining unchanged in the previous month. Two of the three components gained in March.
The material has been provided by InstaForex Company – www.instaforex.com