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By Barry Grey
Global Research, November 16, 2011
http://globalresearch.ca/index.php?context=va&aid=27698
The Organization for Economic Cooperation and Development (OECD) released a report Monday forecasting a further slowdown in the world’s largest economies. The Paris-based group comprises 34 countries, nearly all the major industrialized countries, but excluding China, Brazil and India.
The OECD’s survey of composite leading indicators (CLIs) for September, which predicts economic trends some six months in advance, shows economic activity slowing in North America, Europe, major parts of South America and most of Asia, including China.
The OECD report is the latest in a series of economic analyses and forecasts indicating that the anemic recovery from the financial crash and recession of 2008-2009 has run its course and is giving way to a new and even deeper global economic slump.
The organization said the CLI index for its member countries—including the US, Canada, Mexico, Chile, Germany, Britain, France, Italy, Greece, Spain, the Netherlands, Turkey, Israel, Japan, South Korea, Australia and New Zealand—fell to 100.4 in September from 100.9 in August. It was the seventh straight monthly decline in the CLI for OECD states. The measure for major developing countries outside the organization also pointed to a further slowdown.
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