OECD Economic Index Falls, Pointing to Slowdown Across World

Nov. 14 (Bloomberg) -- The Organization for Economic Cooperation and Development’s leading indicator fell in September as Europe’s debt crisis weighed on growth.

The measure dropped 0.4 points from August to 100.4, the Paris-based group said in an e-mailed statement today. In the euro area, the indicator fell to 99.1 from 99.9.

The data “point more strongly to slowdowns in all major economies,” the organization said. The indicators suggest growth is falling “below trend” in Germany, Italy, the U.K., France, China and Brazil.

The OECD’s leading economic indicator aims to signal when the direction of the economy is changing, with any level below 100 signifying a contraction.

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net