OECD sees signs of fresh slump

A SLOWDOWN in economic growth in the world’s developed countries looks increasingly likely, a leading think-tank said yesterday, highlighting signs the recovery may now have peaked in the United States, Japan and Brazil.

The Organisation for Economic Co-operation and Development (OECD) said yesterday that its July composite leading indicator for the 32-nation OECD area fell for the second month in a row, shedding 0.1 points to 103.1, and warned that there were tentative signs German and Russian expansions may soon peak.