Major economies may continue slowdown

Updated: 2012-01-13 09:33


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PARIS - Leading indicators continued to point to a slowdown in economic activity in most major economies, the Paris-based Organization for Economic Cooperation and Development (OECD) said on Thursday.

OECD's Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, showed "little changed compared to last month for most countries," the OECD said in a report on its website.

However, the CLI for Japan, the United States and Russia were showing "stronger signs of a positive change in momentum and remain above long-term trend," the report said.

"For other major economies and the euro area, the CLIs continue pointing to slowdowns," the report read.

In the 17-member eurozone area, the November CLIs fell to 98.3 points. Indicators for Germany continued to point to slowdown as they dropped from 98.6 points to 97.9 points, while the CLI for France declined to 98.2 points from 98.5 points in the previous month.