Decline of global economies shows signs of easing

The world’s major economies are continuing to head for a deep slowdown, but the pace of decline is easing in some countries, research claimed today.

The Organisation for Economic Co-operation and Development (OECD) said its composite leading indicators index, which is designed to provide early signals of turning points in business cycles, continued to point to a deep slowdown for all of the seven major economies, including the UK.