India Leading Index Rises For Second Month

The leading index for India, which measures the future economic activity, increased for the second straight month in February, though slightly, data from the Conference Board showed Friday. 

The Conference Board leading index rose 0.1 percent in February, following a 0.2 percent climb in the previous month. In December, the index had fallen 1.2 percent. 

Out of the eight components, four of them contributed positively to the index in February. 

"The Leading Economic Index for India improved slightly in the first two months of the year, but its six-month growth rate remains modest against the backdrop of slow global growth," Jing Sima, a senior economist at the Conference Board, said. 

"While the slight improvement in the LEI is a positive signal, and monetary policy should help provide some stimulus, it is too early to conclude that the rate of India's economic expansion will pick up in the coming months." 

At the same time, the coincident index that indicates the current economic activity remained unchanged in February, after falling 1.7 percent in January. Two of the three components contributed positively to the index.