OECD: none of world's major economies will escape slowdown

PanARMENIAN.Net - None of the world's major economies will escape a slowdown, the Organization for Economic Cooperation and Development said on Monday, November 14, highlighting increasing signs that growth momentum is dwindling across the board.

The Paris-based organization's composite leading indicator (CLI) for its members fell for the seventh straight month to 100.4 in September, down from 100.9 in August and hitting the lowest reading since December 2009.

Readings for individual countries and big developing world economies were broadly lower at levels indicating slowdowns, and were in many cases below their long-term averages.

"Compared to last month's assessment, the CLIs point more strongly to slowdowns in all major economies," the OECD said in a statement, Reuters reported.

The OECD CLIs are designed to anticipate turning points in economic activity relative to trend -- a turnaround in an indicator tends to precede turning points in economic activity by around six months.