2011.09.1207:54:00UTC+00OECD Indicators Signal Slowdown In Major Economies

There are increasing signals of a slowdown in economic activity in major economies, the Organization for Economic Cooperation and Development (OECD) said Monday.

The composite leading indicator (CLI) for the OECD area declined for the fourth straight month in July. The index is designed to anticipate turning points in economic activity relative to trend.

The CLI fell 0.5 percent in July after June's 0.4 percent decline. The index reading was down to 101.6 from 102.1. The index slipped 0.1 percent from the year-ago level.

Leading indicators for Canada, France, Germany, Italy, the United Kingdom, Brazil, China and India are pointing more strongly to a slowdown in economic activity, the Paris-based think tank said.

Further, the indexes for the United States and Russia are now pointing more clearly to a slowdown in economic activity than in last month's assessment, the group added.

Meanwhile, the outlook for Japan continues to signal a potential turning-point in economic activity, the OECD said.