OECD indicators continue to point to slowdown in major world economies

Composite leading indicators continued to point to a slowdown in economic activity in most major economies, the Paris-base Organization for Economic Cooperation and Development (OECD).

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 its latest report.

However, the CLI for Japan, the US 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."

In the 17-member eurozone area, the November CLIs fell to 98.3 points.

CLI indicators for Germany continued to point to a slowdown, which fell from 98.6 points to 97.9 points, while that of France declined to 98.2 points from 98.5 points in the previous month.

The OECD compiles CLIs for 29 member countries, for 6 non-member economies and for 7 country groupings such as Euro zone.