The Straits Times
Published on Oct 08, 2012

Global economic outlook deteriorates slightly: OECD


PARIS (REUTERS) - The outlook for the world's major economies including the United States and Germany has deteriorated slightly, although China may be stabilising after a recent slowdown, the OECD said on Monday.

In its latest monthly report on the global economy, the Organisation for Economic Co-operation and Development said its composite leading indicator (CLI) for the 33-nation OECD area fell to 100.1 in August from 100.2 in July, pointing to a continuing trend of weakening growth.

The reading for the United States dipped to 100.5 from 100.6 and the outlook for Germany dropped 2 points to 98.9, below the reading for the euro area as a whole.

Russia saw the biggest decline in its leading indicator, dropping 3 points to 98.8, while Brazil saw an improvement as did Britain, although the UK economy remains weak.