The leading index for India, which measures the future economic activity, decreased in August after rising in the previous month, figures from the Conference Board showed Wednesday.
The Conference Board leading economic index dropped 0.7 percent in August, reversing a 1.7 percent gain in July. In June, the index had fallen 0.1 percent.
“The lack of upward momentum in the LEI suggests that the pace of India’s economic expansion is unlikely to accelerate this year. Despite ongoing monetary and fiscal support, disappointing exports, depreciating currency value, and increased portfolio outflows continue to weigh on the outlook for India’s economy,” said Jing Sima, senior economist at the Conference Board.
The coincident index that reflects the current economic activity, also fell 0.3 percent in August, following a 1.3 percent climb in the prior month. It was the first decrease in three months.
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