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OECD sees economic slowdown in China, India - 12 June 2012

Economic activity indicators in China and India are showing signs of slowing as sluggish activity in both France and Italy continues to drag down the euro zone, the OECD said on Monday. The composite index of leading indicators continues "to point to divergence between economies" worldwide, the Organisation for Economic Cooperation and Development said.

"The assessment for China and India has changed significantly since last month," the OECD said, with the indicators pointing towards activity below long-term trend. Indicators for Japan, Russia and the US still show an improvement, although with "tentative signs that growth may moderate in the near term," the OECD said.

In the euro zone, while indicators for France and Italy continue to point to slow activity, Germany and the currency bloc as a whole were only slightly below the long-term trend.

The OECD said Brazilian data pointed towards a turning point, with economic activity improving to nearer the long-term trend but with a weaker intensity.

The Paris-based organisation’s index of leading indicators is considered to give a strong guide to coming economic performance and hence demand for steel.

 

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