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The OECD’s composite leading indicators (CLIs) for October 2008 continue to point to a weakening outlook for all the major seven economies, while the outlook has significantly deteriorated in the major non-OECD member economies, with China, India and Russia now also facing strong slowdowns.

Russia is showing a particularly sharp turndown:

Latest figures for October and from a year earlier:

OECD area -1.0 point -5.9 points

US -1.2 and -6.6

Euro area -0.9 and -6.3

Japan -0.9 and -3.3

UK -0.9 and -6.5

Canada -1.0 -4.9

France -0.7 and -5.6

Germany -1.6 and -8.3

Italy -0.1 and -4.1

China -1.7 and -7.0

India -1.1 and -6.6.

Russia -4.0 and -10.5.

Brazil -0.3 and -0.4.

(Click chart to enlarge.)

Source: Leading Indicators Signal Strong Global Economic Slowdown