OECD: major economies slowing

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Advanced economies are slowing down, and China is slowing even faster, the OECD warned on Monday on the basis of leading indicators.

The eurozone is again sending signals of below-trend growth, as are Germany and France, Britain which is not in the eurozone, and Canada.

“In Italy, the composite leading indicators point more strongly to a slowdown,” the OECD said.

The indicators for the United States, Japan and Russia are above the long-term trend but again point to slowdown, notably in Russia, the Organisation for Economic Cooperation and Development said.

The indicators are regarded as a reliable guide to turning points in economic activity, and the OECD said that for China and India, they pointed “strongly to a slowdown with economic activity falling below long-term trend.” - Sapa-AFP


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