OECD sees activity slowing in China, India

Economic activity indicators in emerging China and India are showing signs of slowing as sluggish activity in France and Italy continues to drag down the eurozone, the OECD said on Monday. The composite index of leading indicators, a strong guide to coming economic performance, continues "to point to divergence between economies" worldwide, the Organisation for Economic Cooperation and Development said. "The assessment for China and India has changed significantly since last month," the OECD said, with the indicators pointing towards activity below long-term trend. Meanwhile indicators for Japan, Russia and the United States still show an improvement, although with "tentative signs that growth may moderate in the near term," the OECD said. In the eurozone, while indicators for France and Italy continue to point to sluggish activity, Germany and the currency bloc as a whole were only slightly below long-term trend. The OECD, which groups the world's most developed countries, said Brazilian data pointed towards a turning point, with economic activity improving to nearer long-term trend but with a weaker intensity.