OECD warns of economic slowdown

12 October 2010

The Organisation for Economic Cooperation and Development (OECD) has warned that the global economic rebound has lost momentum in recent months, with some countries experiencing a renewed downturn.

According to the Paris-based thinktank's latest composite leading indicators (CLIs), economic activity among its 33 associate nations dropped from 103 in July to 102.9 in August, prompting fresh fears that a double-dip recession may be imminent.

"The outlook given by the CLIs for Canada, France, Italy, the United Kingdom, Brazil, China and India points strongly to a downturn," the group stated. "Stronger signals of a peak are emerging in the United States."

Financial experts have expressed concern about a number of countries' ability to respond to a fresh slump, after borrowing significant amounts of funds to pay for emergency stimulus measures.

The news came as figures released by the British Chambers of Commerce suggested that Britain's economic growth slowed considerably during the second quarter of 2010.

By Asim Shah

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development