09 July 2012 18:50 [Source: ICIS news]
WASHINGTON (ICIS)--The economies of most major industrialised countries are slowing, and developing nations are facing a more dramatic downturn, the Organisation for Economic Co-operation and Development (OECD) said on Monday.
In its monthly global outlook, the Paris-based OECD said its composite leading indicators (CLIs) “point to an easing of economic activity in most major OECD economies and a more marked slowdown in most major non-OECD economies”.
The 34 OECD members are chiefly the major industrialised countries of Europe, North America and Asia but also ?xml:namespace>
The organisation tracks leading indicators for most nations, including those not members of the OECD.
The report for May, the latest available, shows the composite leading indicators for OECD member nations as a whole declined by 0.08% and followed a 0.03% decline in April.
The OECD-area composite indicators had showed a positive 0.10% pace of growth in January this year, but the index has been declining since then and dipped into negative territory with the April data.
May’s index reading for the overall OECD nations was 0.47% below the level seen in May 2011.
Leading indicators for
The report said leading indicators for
The OECD’s forecast for slowing economic growth virtually worldwide could spell more trouble for the
With the economies in those foreign markets now slowing, according to OECD, a resulting downturn in their imports could further threaten the
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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