The outlook for economic growth in the United States and the euro zone has worsened, the Organization for Economic Cooperation and Development (OECD) said today.
The Paris-based think-tank said the United States' leading indicator, which summarises information contained in several short-term indicators linked to gross domestic product, dipped to 103.1 in February after 103.2 in January.
The country's six-month rate of change, a measure which signals change in the pace of growth, decreased to 1.4 from 1.8, falling after three months of increases.
The leading index fell to 103.8 for the 30-nation OECD area in February after 104.0 in January. The six-month rate of change was down at 0.9 in February versus 1.4 in the month before, following nine months of decline.
"Slow expansion lies ahead in the OECD area according to the latest composite leading indicators (CLIs)," the OECD said.
"February data showed weakening performance in the CLI's six-month rate of change in all of the Group of Seven major economies except Canada," it said. Canada's leading indicator edged up to 100.3 from 100.2.
But the euro zone's indicator dipped to 105.7 from 105.8 in January. The zone's rate of change, which has shown a downward trend since December 2003, fell to 0.7 from 1.2.
The leading indicator for Germany, Europe's largest economy, fell to 107.8 from 108.2 in January. France's indicator dipped to 105.5 in February from 105.6 the month before. The six-month rate of change for both countries also declined.
Britain's indicator fell to 100.3 from 100.4 in January, while Japan's leading indicator fell to 98.7 from 99.4.