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Indian Growth to Moderate

The ECRI Indian Leading Index, designed to anticipate Indian economic recessions and recoveries, rose to 184 in January 2003 from 183 in December 2002 and 182.1 in November.

Its growth rate, however, slipped to 15.4% in January 2003 from 17.1% in December and 19.0% in November 2002.

While growth in the leading index continues to remain robust, it has fallen below the highs seen in the last quarter of 2002, suggesting that overall economic growth may moderate in the coming months.