OECD sees growth slowing in China, India, Britain, France and Italy

Warning that China, India, Britain, France and Italy could be heading for economic slowdown, the Organisation for Economic Cooperation and Development (OECD) has said the expansion would continue in the US, Germany, Japan and Russia.

According to the OECD, its forecasts were based on its composite leading indicators (CLI) index.

The OECD added its Composite Leading Indicator (CLI) for the OECD area did not change for a fourth straight month in September at 102.8, suggesting economic expansion remained steady in the overall 33-nation bloc.

However the indicator hid differing growth patterns across major  economies, with individual CLIs on the rise in countries such as Japan and the US, but slipping back elsewhere.

"The CLIs show signs of continuing expansion in Germany, Japan, the United States and Russia, while pointing to a moderate downturn in Canada, France, India , Italy and the United Kingdom," the OECD said in a statement.

The CLI for Japan was up at 103.2 in September from 103.0 the previous month, while Germany was steady 105.8 and the US improved slightly to 102.4 from 102.3 in August.