Advanced economies, China signal slowing activity—OECD

Chinese residents perform Taiji exercises near high end residential complexes in Beijing Monday, July 9, 2012. While advanced economies are slowing down, China is slowing even faster, the Organization for Economic Cooperation and Development (OECD) warned on Monday. AP PHOTO/NG HAN GUAN

PARIS—Advanced economies are slowing down, and China is slowing even faster, the Organization for Economic Cooperation and Development (OECD) warned on Monday on the basis of leading indicators.

The eurozone is again sending signals of below-trend growth, as are Germany and France, Britain, which is not in the eurozone, and Canada.

“In Italy, the composite leading indicators point more strongly to a slowdown,” the OECD said.

The indicators for the United States, Japan and Russia are above the long-term trend but again point to slowdown notably in Russia, the OECD said.

The indicators are regarded as a reliable guide to turning points in economic activity, and the OECD said that for China and India, they pointed “strongly to a slowdown with economic activity falling below long-term trend.”