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OECD Points to Slowdown in Major Economies
12.07.2011 10:17 "Agro Perspectiva" (Kyiv) —
Leading world economies have been in a slowdown in May, with the United States, Japan and Russia reaching possible turning points in their growth cycles, the Organization for Economic Cooperation and Development (OECD) warned in a report on Monday.
According to the report, Canada, France, Germany Italy, Britain, China and India were on a path of a slowdown in May.
«In the United States, Japan and Russia tentative signs of turning points in the growth cycle are emerging,» the report said.
However, it added that the outlook for Japan should be viewed with caution owing to the earthquake in March.
By determining four growth cycle phases (expansion, downturn, slowdown and recovery), the composite leading indicator (CLI) of the OECD predicted turning points in economic activity approximately six months beforehand.
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