India’s leading economic index signaling turning points in the economic cycle weakened in November, data from the Conference Board showed Wednesday.
The leading economic index dropped 0.5 percent in November from October, when it rose 1 percent.
“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,” Sima added.
The coincident economic index that measures current economic activity gained 0.3 percent, following a 1.4 percent increase in October.
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