OECD: major economies slowing

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