Most major world economies are slowing down: OECD

10/08/2012 - Most of the major world economies are slowing, with Britain the only country to see tentative signs of a pick-up, the OECD says.

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The Organisation for Economic Cooperation and Development said on Thursday its composite leading indicators continued to point to "an easing of economic activity in most major OECD economies and slowdowns in most major non-OECD economies".

The individual indicators for Japan and the United States "show signs of a fading growth momentum," the Paris-based OECD, which groups the world's most developed countries, said in its latest report.

The signs from the eurozone, Germany and France "continue to point to weak growth", except in Italy where they point "more strongly to a slowdown".

Data for Britain, however, shows "tentative signs of a pick-up in economic activity", making it the only country to show improvement.

In Canada they point to "continued weak growth".

In the emerging markets of China, India and Russia, the indicators "continue to point to a slowdown" while in Brazil they suggest "a more moderate pick-up in economic activity than in last month's assessment".

Source: AAP

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